A furniture store received an invoice from a supplier for $12282 dated July 13, 2022 with terms 5/10, 2/20, n/60. A partial payment, in the amount of $5373 is made on July 20. What amount is credited to the account?
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At the end of the accounting period, a financial statement is prepared by every company, then at that time while preparing the financial statement, the company determines among its total receivable amount how much portion of receivables is collected by the company during that accounting period.
Accounts Receivable
The word “account receivable” means the payment is yet to be made for the work that is already done. Generally, each and every business sells its goods and services either in cash or in credit. So, when the goods are sold on credit account receivable arise which means the company is going to get the payment from its customer to whom the goods are sold on credit. Usually, the credit period may be for a very short period of time and in some rare cases it takes a year.
A furniture store received an invoice from a supplier for $12282 dated July 13, 2022 with terms 5/10, 2/20, n/60. A partial payment, in the amount of $5373 is made on July 20. What amount is credited to the account?
Boyd Industries received an invoice dated September 4, 2021 with terms 2.5/10, n/30. The amount stated on the invoice was $6386. What is the amount due on September 10 if the invoice is to be paid in full?
A set of weights has a list price of $97. If discounts of 14%, 10% and 3% are offered, what is the single equivalent discount rate (SEDR) that was given? Write your final answer as a percent rounded to 2 decimal places.
A microwave oven has a list price of $93 less discounts of 16%, 5% and 2%. What is the net price of the microwave oven?
Beatles Office Products bought a desk for $735 and plans a mark up of $626. During a clearance sale, they decided to mark down the regular selling price of the desk by 16%. What was the clearance sale price of the desk? (While it is not required, you may find it helpful to create a price structure table to help you complete this question.)
After trade discounts of 14% and 3%, a store purchased a bicycle for a net price of $961.19. Determine the original list price of the bicycle.
bike shop received an invoice from a supplier for $8900 dated November 26 with terms 5/10, 2/20, n/60 E.O.M. What is the last day to receive a 2% discount? (Do not use a number for the month. Please write the full word.)
The lease expense on a building is to be allocated to three departments based on the floor space each occupies. The sales department occupies 3600 m2, the warehouse occupies 4800 m2, and the shipping department occupies 6400 m2. If the annual leasing cost is $477190, what amount should be allocated to the shipping department?
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