Hello, I need help with the following question(s): C Chegg Study| Guided SoConne

Question

Hello, I need help with the following question(s):

C Chegg Study| Guided SoConnect On April 1, Griffith Publi × × ? ? ??Secure l https://newconnect.mheducation.com/flow/connect.html Exam 2 Saved Help Save & Exit Submit MC Qu. 122 On February 3, Smart Company... On February 3, Smart Company sold merchandise in the amount of $4,100 to Truman Company, with credit terms of 2/10, n/30. The cost of the items sold is $2,830. Smart uses the perpetual Inventory system and the gross method. Truman pays the Invoice on February 8, and takes the appropriate discount. The journal entry that Smart makes on February 3 is pcinis 01:5040 Multiple Choice Cash 2,830 Accounts receivable 2,839 ash 4,100 Accounts receivable 4,190 Cash 4,020 Mc Graw 7-28 PM O Type here to search 4) 7/2018

Explanation / Answer

11) Journal entry :

12) Cost = 270*23 = 6210

Replacement = 270*20 = 5400

So value is $5400

Date account & explanation debit credit Cash (4100*98%) 4018 Sales discount 82 Account receivable 4100

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