Queen Mattresses,Inc If Queen Mattresses,Inc $\begin{array}{lll}\text { Accounts Receivable } & 3,800 \\\quad \text { Sales } & & 3,800 \\\end{array}$

question 65

Multiple Choice

Queen Mattresses,Inc.had the following transactions occur during May 20X3.Assume there is no beginning inventory. $\begin{array}{ll}\text { May } 2 & \text { Inventory was purchased on account for } \$ 5,000 \text {, terms } 2 / 10, n / 30 . \\\text { May } 3 & \text { Inventory costing } \$ 1,000 \text { was returned. } \\\text { May } 9 & \text { Paid for the inventory. } \\\text { May 15 } & \text { Inventory costing } \$ 2,200 \text { was sold on account for } \$ 3,800 \text {, terms } 3 / 10, n / 45 \text {, } \\\text { May } 31 & \text { Closing entries are prepared for the month-end financial statements. }\end{array}$ If Queen Mattresses,Inc.were using a periodic inventory system,what is the journal entry on May 15?

• A)\(\begin{array}{lll}
• \text { Accounts Receivable } & 3,800 \\
• \quad \text { Sales } & & 3,800 \\
• \end{array}\)
• B)\(\begin{array}{lccc}
• \text { Accounts Receivable } & 3,800 & \\
• \quad \text { Sales } & & 3,800 \\
• \text { Cost of Goods Sold } &2,134 & \\
• \text { Cash Discounts on Sales } &66 & \\
• \quad \text { Inventory } & & 2,200\\
• \end{array}\)
• C) \(\begin{array}{lccc}
• \text { Accounts Receivable } & 3,800\\
• \quad \text { Sales } & & 3,800 \\
• \text { Cost of Goods Sold } &2,200 & \\
• \quad \text { Inventory } & & 2,200\\
• \end{array}\)
• D) \(\begin{array}{lccc}
• \text { Accounts Receivable } & 3,686 \\
• \text { Cash Discount on Sales } & 114 \\
• \quad \text { Sales } & & 3,800 \\
• \end{array}\)
• E)\(\begin{array}{lccc}
• \text { Accounts Receivable } & 3,686 \\
• \text { Cash Discount on Sales } & 114 & \\
• \quad \text { Sales } & & 3,800 \\
• \text { Cost of Goods Sold } & 2,200 &\\
• \text { Inventory }& & 2,200
• \end{array}\)

Understand the limitations and challenges of market-based solutions to environmental problems.

Recognize the socio-political dynamics affecting environmental policies and practices, particularly in marginalized communities.

Analyze the role of political pressure and movements in environmental policy changes.

Identify the global disparity in responsibility and impact regarding environmental damage.

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Definitions:

Population

The total number of individuals or organisms within a specified area or group.

Cross-sectional

A form of research that focuses on analyzing data from a population or its representative part, specifically at a certain time frame.

Self-discipline

The ability to control one's feelings, impulses, and actions to achieve long-term goals.

Early Adolescent

Refers to the early phase of adolescence, typically ranging from ages 10 to 13, marked by rapid physical, cognitive, and psychological changes.