6. On 1 – 4 - 2018 Ms. Bushra Al Khair LLC buys 150 Apple phone @ 225 each from a local supplier. (i.e. the trade discount does not apply to the first RO 10,000). He is offered a 2.5% cash discount for immediate payment. What is the amount payable by Ms. Bushra Al Khair LLC assuming that if she makes payment after 3 months? The supplier offers a trade discount of 5% on amounts in excess of RO 10,000

6. On 1 – 4 - 2018 Ms. Bushra Al Khair LLC buys 150 Apple phone @ 225 each from a local supplier. (i.e. the trade discount does not apply to the first RO 10,000). He is offered a 2.5% cash discount for immediate payment. What is the amount payable by Ms. Bushra Al Khair LLC assuming that if she makes payment after 3 months? The supplier offers a trade discount of 5% on amounts in excess of RO 10,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

On May 12, Scott Rinse accepted an $12,000, 12%, 90-day note for a time extension of a bill for goods bought by Ron Prentice. On June 12, Scott discounted the note at Able Bank at 11%. (Use Days in a year table.) What proceeds does Scott receive? Note: Use 360 days a year. Do not round intermediate calculations. Round your final answer to the nearest cent.
2a. You decide to purchase a new touchscreen Chromebook. The price is listed at $499.99 but the salesperson tells you that everything in the store is 25% off today. What is the total price that you pay for the Chromebook (including 8% Tax)? 2b. You decide to take advantage of the store's payment plan. The payment plan's terms are as follows: 18 equal monthly payments, 6% interest, compounded monthly. a) What is the total cost that you will end up paying for
Kayla just signed a contract to purchase her inventory exclusively from one vendor. The contract allows for terms of 3/15, net 90. Kayla estimates that she will need to borrow $150,000 to take the discount. Her bank will lend money for 75 days at an interest cost of $2,000. Should Kayla borrow the money to take the discount? Or does it make more sense for her to not take the discount and just pay her invoice within 90 days? Back up your recommendations with your calculations.
How to do this question?
Doug Black bought a jet ski with a 6% add-on interest installment loan from his credit union. The purchase price was $1,950. The credit union required a 15% down payment and equal monthly payments for 48 months. What are Doug's monthly payments (in $)? (Round your answer to the nearest cent.) $
Grouper Company sells goods to Danone Inc. by accepting a note receivable on January 2, 2020. The goods have a sales price of $550,100 (cost of $510,000). The terms are net 30. If Danone pays within 5 days, however, it receives a cash discount of $10,100. Past history indicates that the cash discount will be taken. On January 28, 2020, Danone makes payment to Grouper for the full sales price. (a)Prepare the journal entry(ies) to record the sale and related cost of goods sold for Grouper Company on January 2, 2020, and the payment on January 28, 2020. Assume that Grouper Company records the January 2, 2020, transaction using the net method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) (b)Prepare the journal entry(ies) to record the sale and related cost of goods sold for Grouper Company on January 2, 2020, and the payment on January 28,…
MN.55. Muriel has a line of credit with a limit of $10 OOO. She owed $8195 on July 1. Principal withdrawals for the period July 1 to November 30 were $3000 on August 20 and $600 on October 25. The line of credit agreement requires regular payments of$300 on the 15th day of each month. Muriel has made all required payments. Interest (including overdraft interest) is charged to the account on the last day of each month. The interest rate was 8% on July 1, but was changed to 7.5% effective September 15. Overdraft interest is 16% for any balance in excess of $10 000. (a) Calculate the interest charges on July 31, August 31, September 30, October 31, and November 30. (b) Calculate the account balance on November 30
6. A business allows customers to pay with a credit card or with cash. If paid with cash, the customer receives a discount of 100r%, where 0