On December 1, Eagle Corp. sold merchandise with a selling price of $8,000 on account to Bobcat Inc., with terms 4/15, n/60. On December 3, Bobcat Inc. returned merchandise with a selling price of $600. Bobcat Inc. paid the amount due on December 12th. How much cash did Bobcat Inc. pay Eagle Corp. on December 12th to pay off their accounts receivable?

On November 1, Eagle Corp. paid $24,000 for one year of insurance, in advance. Which of the following will be part of the adjusting entry on December 31?

Eagle Corp. reported the following information for the year: Revenues $220,000, expenses $170,000, stock issuance $25,000 and cash dividends $35,000. What was the net income and the change in retained earnings for the period?

On October 1, Eagle Corp. paid $18,000 for one year of insurance, in advance. Which of the following will be part of the adjusting entry on December 31?

Eagle Corp. ended the year with $600 of supplies. During the year, Eagle Corp. purchased $1,800 of supplies. If there were $200 of supplies on hand at the beginning of the year, the adjusting entry Eagle Corp. would prepare at the end of the accounting period would include a:

Eagle Corp. uses the percentage-of-credit sales method to estimate uncollectibles. Net credit sales for the current year amount to $3,150,000 and management estimates 2% will be uncollectible. The Allowance for Uncollectible Accounts prior to adjustment has a debit balance of $15,000. After all adjusting entries are made, the balance in Allowance for Uncollectible Accounts will be:

On August 1, 2023, Eagle Corp. received $5,800 for services to be performed evenly over the next ten months. The adjusting entry on December 31, 2023, would include a:

On November 1, 2023, Eagle Corp. pays $720,000 for a television advertising campaign. Commercials will run evenly over six months beginning on November 1, 2023. How much Advertising Expense will be reported on Eagle Corp.’s income statement prepared for the year ended December 31, 2023?

On October 1, 2023, Eagle Corp. paid $18,600 for one year of insurance for the period, October 1, 2023 through September 30, 2024. Which of the following will be part of the adjusting entry on December 31, 2023?

Eagle Corp. ended the year with $400 of supplies. During the year, the company purchased $1,200 of supplies. If there were $700 of supplies on hand at the beginning of the year, the adjusting entry Eagle Corp. would prepare at the end of the accounting period would include a: