A shoe store sells a pair of shoes for $89.95. The cost of the shoes to the store is $46.50. a What is the markup? b. What is the markup rate?
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- A retailer buys merchandise from a supplier with an invoice amount of $12,400. The terms of the sale are 5/20, n/30. What is the net amount due (in $) on the order if the bill is paid by the 20th day? Need Help? Food Watch tA merchant buys a sweatshirt for $15 and has a dollar markup of $14.95. what is the retail price? $28.95 O $29.95 $30.95 $29.00A certain person bought merchandise for $ 3,500 with conditions or terms of payment of 5/10, n / 30. In order to pay within the discount period, she took out a loan at 6% interest. How much did you save if you used the loan to pay for merchandise that had a cash discount? A. $147.77 B. $163. 92 C. $183. 94 D. $198. 23
- 1.On June 1, P8,000 of goods are sold with credit terms of 1/10, n/30. On June 3 the customer returned P1,000 of the goods. How much should the seller expect to receive if the buyer pays on June 8?A buyer receives merchandise on September 7th that is invoiced for $3,250. The date on the invoice is August 2nd and the terms are 3/15 ROG. How much is due if the buyer pays the bill on September 24th? Answer: A buyer receives the bill for $2,500 of merchandise from a vendor. The date on the invoice is January 15th and the terms are net. How much is due to the vendor and what is the due date? Select one: O a. $2,450 on January 30th b. $2,500 on January 30th c. $2,450 on February 14th d. $2,500 on February 14th Merchandise received on March 2nd with a total quoted cost of $4,000 and transportation costs of $200 was billed on an invoice dated February 6th. The terms on the invoice were 2/10 ROG, FOB Destination, Charges Reversed. How much was due to the vendor if the buyer paid on February 26th? Answer: A buyer receives merchandise on April 2nd that is invoiced for $8,200. The date on the invoice is April 27th and the terms are 2/10 EOM. What is due if the buyer pays by May 15th? Select…Barans Company purchased merchandise on account from a supplier for $9,200, terms 1/10, n/30. Barans returned $1,500 of the merchandise and received full credit. A. If Barans Company pays the invoice within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar. $________________ B. What account is debited by Barans Company to record the return? Options are: 1. Accounts Payable 2. Accounts Receivable 3. Cash 4. Merchandise Inventory 5. Purchases 6. Sales 7. Sales Returns and Allowances
- A company purchases merchandise for $23,000. The seller also offers credit terms of 2/10, n/30. Assuming no returns were made, and that payment was made within the discount period, what is the net cost of the merchandise?A local Sports Authority store, an athletic sports shop, bought and sold the following merchandise: Selling Cost Tennis rackets $2,900 Tennis balls price $ 3,999 210 70 Bowling balls Sneakers 1,050 8,105 2, 950 14, 888 a. What was the total cost of the merchandise bought by Sports Authority? Total cost of the merchandise 22.047 b. If the shop sold all its merchandise, what were the sales and the resulting gross profit? Total sales Gross profitA retailer buys merchandise from a supplier with an invoice amount of $12,600. The terms of the sale are 5/20, n/30. What is the net amount due (in $) on the order if the bill is paid by the 20th day? $ hi also the 5 is highlighted red i dont know what that mean
- H3. A retailer purchases some merchandise with an invoice price of $19,100 and terms of sale of 5/15, n/45. What is the net amount due (in $) on the order if a partial payment of $10,800 is made on the 15th day? (Round your answer to the nearest cent.) Please show proper step by step calculation with details1.A customer pays on credit for $1,250 worth of merchandise, terms 4/15, n/30. If the customer pays within the discount window, how much will they remit in cash to the retailer? $1.200 $2.500 $50 $1.250An invoice for furniture for $1, 210.88 with terms of 2/10, n/60 is dated October 3. A. What is the last day on which cash discount may be taken? B. If paid within discount period, how much is the cash discount? C. If the discount is missed, on what day does the credit period end?