Read the Description of Following Transactions That Are Required During

question 71

Essay

Read the description of following transactions that are required during the accounting period for Mario's Electronics. Determine the account and amount to be debited and the account and amount to be credited.
A. Gave a $300 allowance to a credit customer for damaged merchandise. The original sale involved a 10 percent sales tax.
B. Accepted a return of $150 in merchandise from a credit customer. The original sale involved 5 percent sales tax.
C. Sold $200 in merchandise for cash. The transaction involved 8 percent sales tax.
D. Received a check for $50 from a credit customer on account.
E. Sold $1,200 in merchandise on credit. The transaction did not involve sales tax.

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Definitions:

Culturally Adapted Therapies

Psychotherapeutic approaches that are modified to respect and incorporate the cultural backgrounds and needs of diverse client populations.

Established Therapies

Therapeutic practices and methods that have been widely accepted and used over time, often backed by a significant body of research and clinical trials.

Initial Utilization

The first use or engagement with a service or product, often studied in the context of customer behavior or the introduction of a new medical treatment or therapeutic approach.

African-Americans

African-Americans are a racial or ethnic group in the United States with ancestry from the black racial groups of Africa.