605000 estimated cost of inventory destroyed 415000

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13- Dr. A/c receivables 9,900Cr. Revenue 9,900Dr. COGS 5,300Cr. Inventory 5,30014- Cr. Cash 4,656Cr. Discount 144Dr. A/c payables 4,80017- Cr. A/c receivables 600Dr. Sales Return 600Dr. Inventory 450Cr. COGS 45018-Dr.Inventory 4,100Cr. A/c payables 4,100
26- Dr. A/c payables 4,100Cr. Discount 82Cr. Cash 4,01828- Cr. A/c receivable 9,300Dr. Discount expense 186Dr. Cash 9,11429- Dr. 12,000Dr. Freight 200Cr. Cash 12,200ACC 205 Week 3 Quiz (10 Multiple Choice)
These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below. Date Taken: 3/3/2012Time Spent:4 h , 34 min , 38 secs Points Received:9 / 10 (90%) Question Type:# Of Questions:# Correct:True/False22Multiple Choice87Grade Details
1.Question :The following data is available:Net sales, first month $13,000Normal gross profit45%Beginning inventory8,000Net purchases7,000Using the gross profit method, the Cost of goods sold would be:
Points Received:1 of 1 Comments:2.Question :Which of the following assets does a merchandising company—but NOT a service company—need?
Points Received:1 of 1 Comments:1783945613MultipleChoice19True01783945613MultipleChoice191783945614MultipleChoiceTrue017839456141
1783945615MultipleChoice13True01783945615MultipleChoice131783945616TrueFalse5True01783945616TrueFalse51783945617MultipleChoice2True01783945617MultipleChoice2

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