29 2288 30 30 M. Smith £118. paid the following by cheque: F. Hood Received cheques from: R. Pleat £158; L. Fish ₤370. Received a further loan from B. Barclay by cash £500. Received £614 cash from A. Tom.
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- An invoice shows a total of £3,200 less 2.5% cash discount. If this was paid in time, the amount of the cheque paid would be for? a. £2,960 b. £3,040 c. £3,120 d. £2,800On January 16, K Corp, accepted a P600,000, 9%, 90 day note from a customer. On February 10, the note was discounted at 12%. Assume the note was discounted on a without recourse basis. Compute for the cash received from discounting.a. 613,500b. 600,000c. 600,207.50d. 595,095 Gain (or Loss) on notes receivable discountinga. (3,542.50)b. 207.50c. 13,500d. 3,750 Assume that the note was discounted with recourse and treat the discounting as a conditional sale. Compute for the gain (or loss) on notes receivable financingC. P177.60 d. P29.60 P74.40 P300 P620 30% e. 4. Find the (a) cash discount and (b) net amount due if the following invoices are paid within the discoun period. Net invoice price P3,265 Net amount due Terms of payment 3 п Cash discount 10'30 P 1,342 15'60 2 n P985 5'15 5. Find the (a) deadline for discount period, (b) deadline for credit period, (c) cash discount and (d) amount due for the following cases. Deadline of discount Net Deadline of credit Invoice Terms of Cash Invoice date amount due amount payment discount period period 1 n P 1,675 Jan. 15 15'45 P645 Feb. 25 10'30 1n P 895 March 12 10'45 3 2 P785 April 22 . 15'20'90 6. The net invoice price of a wall clock is P287.00. If the discount granted was 18%, find: a. Net invoice price rate b. List price C. Discount 7. The net invoice price of a dining table is P6,187.50, representing 75% of the list price. Find: a. List price b. Discount
- The checkbook balance is $8,850. The total fees or charges deducted by the bank is $8.15.The interest credit is $5.12. Determine the adjusted checkbook balance. a. $5000 b. $8,863.27 c. $8846.97 d. $8853.03B. Record the entry for acceptance of promissory note in exchange of accounts receivable from McCormick Industries. C. Record the entry for interest accrued on promissory note received from McCormick Industries. D. Record the entry for interest received , from McCormick Industries , on the note's maturity date. E. Record the entry for payment received from McCormick Industries the principal on the note's maturity date.A cheque drawn by the business from RM609 for payment of a liability was recorded in the journal as RM906. This item would be included in the bank reconciliation as alan Deduction by the bank Addition by the bank O Deduction by the business O Addition by the business
- Nonequestion 2. 6. Cash sales per cash register roll, R20 000. Received a direct deposit for R6 000 from C Crawl in full settlement of his account. 6 Credit sales of R30 000 to a debtor R Rose. 15. Purchased inventory worth R12 000 on credit from B Bryn. 15. Cash sales as per cash register roll, R11.000. 22. Purchased inventory from, S Sam, and paid R2 875 in cash. 25. Paid Inner-city Municipality for water and electricity consumed, R4 900. 29. Interest of R850, received from ZM Bank on a fixed deposit, was recorded as R650 in the cash receipts journal. 30. Bank charges for November 2022 amounts to R300 and must still be recorded. REQUIRED: Record the above transactions of & Mathi Traders in the following subsidiary journals for November 2022: • Cash receipts journal Cash payments journal NMPlease answer the question correctly. Thank you.