3. Php 826.10 was deducted on a bath mirror on sales. The invoice price was Php 3194.90. What is the discount rate?

Q: An invoice of $3168 from Scottish Importers has cash terms of 4/20 EOM and is dated June 5. Find (a)…

A: formula: Cash discount Amount = Invoice amount x Discount rate

Q: invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last day of the discount period, and…

A: Generally the discount is given by the supplier in order to receive the immediate payment and create…

Q: The company purchased merchandise for ₱55,496 less 2 on terms 50% down, balance 2/10, n/30.  How…

A: Purchase discount is a discount provided by the seller if payment is made within a specific period…

Q: Barans Company purchased merchandise on account from a supplier for $13,000, terms 2/10, n/30.…

A: In case of no information for inventory system, the perpetual method is inventory is assumed. Using…

Q: On April 1, a company made a sale of $87,500, on credit. If the credit terms were 2/10, n/30, what…

A: Formula: Sales discount = Net sales x Discount rate

Q: total amount of the credit-card sales on the record for the date 09/24/10. 4/10 ...... Sales Refunds…

A: Sales revenue refers to the income received through firm from its goods sale or from provision of…

Q: ⦁ A sales invoice totaling Rs 35,000 and dated January 14 has discount terms of 2/10, n/30. If it is…

A:

Q: An invoice in the amount of $200 carries cashterms of “2/10, net 30.” If the buyer takesadvantage of…

A: The terms of sale 4/10 Net 30 states that if the invoice is fully paid for within 10 days, the…

Q: A retailer paid P991.20 less for a bill of goods amounting to P3,540 after he was allowed a trade…

A: Trade discount is the amount of discount allowed by the wholesaler of the goods on the sales made by…

Q: 48.ABC Corp sold goods with a list price of P100,000 on terms of 10%, 3/10, 1/15 n/30. Based on…

A: The highest cash discount possible is 3%.

Q: The transportation cost is RM400. The company received trade discounts of 10% and 15% and cash…

A: a) Multiple trade discount can be calculated using a complement method as below:

Q: Cherry Co. Purchased merchandise for cash with an invoice price of 13000. How much is the vatable…

A: Value added tax:  It implies to the tax that is charged on the value addition by the producers at…

Q: retailer purchases some merchandise with an invoice price of $19,100 and terms of sale of 5/15,…

A: A partial payment is one that is given for a fraction of the total amount owing for a product,…

Q: A flat TV which was listed at P 21,000 was offered to a customer for P 17,800. Find the rate of…

A: Trade discount rate is the rate by which manufacturer of a product reduce price of that product.…

Q: f. The adjustment for customer returns and allowances is $60,000 for sales and $35,000 for cost of…

A: Inventory: Inventory refers to the stock of goods purchased, utilized and maintained by the company…

Q: On March 1, ZCX company made a sale of $87,500, on credit. If the credit terms were 2/10, n/30, what…

A: Lets discus basic things. Seller for the purpose of getting early payment from the buyer, gives the…

Q: An invoice shows a net price of $176.72 after trade discounts of 30%, 10%, and 2% have been…

A: STEP1 The rate of return used to reduce future cash flows to their present value is known as a…

Q: On December  1, BCX company made a sale of $87,500, on credit. If the credit terms were 2/10, n/30,…

A: The discount is given to the customers so as to receive payment from customers on the early basis.

Q: An invoice for furniture for $1, 210.88 with terms of 2/10, n/60 is dated October 3. A. What is…

A: The question is based on the concept of Financial Accounting.

Q: Isabel signed a PhP9,700 note that her bank discounted. The note will mature in 108 days. The…

A: Par value = P 9700 Issue price = P 9350.80 Period = 108 Days

Q: An invoice shows a net price of $176.72 after trade discounts of 30%, 10%, and 2% have been…

A: a. An invoice shows a net price of $176.72 after trade discounts of 30%, 10%, and 2% have been…

Q: EONY Enterprises' purchases per purchase invoice is ₱150,000. The purchase discount is 2/10, n/30.…

A: Formula: Net purchases = Purchase invoice - Purchase discount + Freight.

Q: ABC Corp sold goods with a list price of P100,000 on terms of 10%, 3/10, 1/15 n/30. Based on…

A: Under the gross method, the accounts receivables are recognized as listed price less trade discount.…

Q: GINKGO-NUTS Enterprises' purchases per purchase invoice is ₱150,000. The purchase discount is 2/10,…

A: Purchase discount=Purchase value×2%=₱ 150,000×2%= ₱ 3,000

Q: The net price of an item after trade discounts of 15% and 8% was RM1,955. Find: a) the list price b)…

A: List Price can be calculated as per the formula given below List Price = Gross Price - Trade…

Q: A purchase (supplier sales) invoice document was received by your business. The net value recorded…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : The…

Q: Walmart received an invoice of $25,800, dated July 27, with terms of sale 4/15 EOM. Walmart would…

A: 4/15 EOM means that the company can receive 4% discount if it pays in 15 days, otherwise pay the…

Q: How do you find the cash discount and the net amount paid when you know the gross amount of invoice…

A: Cash discount is a rebate permitted by certain vendors of merchandise or by certain service…

Q: 2. The net price of an item after a trade discount of 10% and 5% was RM2,000. The invoice was dated…

A: Trade discounts refers to the sum total of discount that a company provides to its retailers in the…

Q: Flounder Company purchased merchandise on account from a supplier for $32,100, terms 2/10, n/30.…

A: a)  Net purchases = $32,100 - $8,600 = $23,500 Discount on purchases = $23,500 * 2% = $470 Cash…

Q: ) Briefly explain the meaning of cash discount.

A: Cash discount  is the discount  offered by the seller of a product  to the buyer at the time of…

Q: Leno Company sells goods to the Fallon Company for $14,000. It offers credit terms of 3/10, n/30. If…

A: Journal entries refers to the entries which are made at the end of the period or year and it records…