A custom manufacturer completed Jobs 103 and 104. Job 103 cost $24,000 and was sold (on credit) for $40,000. Job 104 cost $30,000. The journal entry to record the sale of Job 103 consists of a:Multiple ChoiceDebit to Sales $40,000; credit to Accounts Payable $40,000.Debit to Accounts Receivable $40,000; credit to Sales $40,000.Debit to Cost of Goods Sold $40,000; credit to Sales $40,000.Debit to Sales $40,000; credit to Cash $40,000.Debit to Accounts Receivable $24,000; credit to Sales $24,000.

The entry to record a sale of $750 (cost of goods $400) with terms of 2/10, n/30 will include a: Group of answer choices debit to cost of sales for $400. credit to cost of sales for $400. debit to inventory for $400. credit to inventory for $350.

On Jan 5, a customer returned merchandise that had been purchased earlier on credit. The original sale was for $500, and the cost to the seller was $150. Demonstrate the required journal entry to record the return on the books of the seller, assuming the goods can be sold to another customer.Multiple choice question.Debit Accounts Receivable $500 and credit Cash $500.Debit Accounts Receivable $500; credit Sales Returns and Allowances $500; credit Merchandise inventory $150; and credit Cost of Goods Sold $150.Debit Sales Returns and Allowances $150; credit Accounts Receivable $150.Debit Sales Returns and Allowances $500; debit Merchandise Inventory $150; credit Accounts Receivable $500; and credit Cost of Goods Sold $150.

Jo's Market makes a credit sale for $1,000 with terms of 2/10,n/30. The cost of the merchandise is $400. The required journal entry to record the sale and cost of the sale is:Multiple choice question.debit Accounts Payable $1,000; and credit Sales $1,000debit Accounts Receivable $1,000; credit Sales $1,000; debit Cost of Goods Sold $400; and credit Merchandise Inventory $400debit Accounts Receivable $1,000 and credit Sales 1,000debit Accounts Receivable $600; credit Sales $600; debit Cost of Goods Sold $400; and credit Merchandise Inventory $400

Select all that applyX-Mart uses the perpetual inventory system to account for its merchandise. On May 1, it sold $1,400 of merchandise on credit. The original cost of the merchandise to X-Mart was $500. Demonstrate the required journal entry to record the sale and the cost of the sale by selecting all of the correct actions below.Multiple select question.Debit Cost of Goods Sold $500.Debit Sales $1,400.Credit Sales $1,400.Debit Accounts Receivable $1,400.Credit Cost of Goods Sold $500.Credit Accounts Receivable $1,400.Debit Merchandise Inventory $500.Credit Merchandise Inventory $500.

Reid Manufacturing provides the following information about their product:Selling price per unit$200Variable manufacturing costs per unit$ 50Fixed manufacturing costs per unit$ 60Variable selling costs per unit$ 40Fixed selling costs per unit$ 20Expected production and sales800 unitsContribution margin per unit is:Question 10Select one:a.$30b.$90c.$110d.$150e.None of these is correct