Boeing Truck Company received an invoice showing 12 tires at $114 each, 15 tires at $157 each, and 17 tires at $191 each. Shipping terms are FOB shipping point. Freight is $477; trade discount is 10/5; and a cash discount of 3/10, n/30 is offered. Assuming Boeing paid within the discount period, what did Boeing pay? (Round all intermediate calculations to two decimal places (the nearest penny) and enter your final answer rounded to two decimal places.) Payable amount

Boeing Truck Company received an invoice showing 12 tires at $114 each, 15 tires at $157 each, and 17 tires at $191 each. Shipping terms are FOB shipping point. Freight is $477; trade discount is 10/5; and a cash discount of 3/10, n/30 is offered. Assuming Boeing paid within the discount period, what did Boeing pay? (Round all intermediate calculations to two decimal places (the nearest penny) and enter your final answer rounded to two decimal places.) Payable amount

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

Pagan Restaurants accepts credit and debit cards as forms of payment. Assume Pagan had $10,000 of credit and debit card sales on April 30, 2023. 9. 10. Suppose Pagan's processor charges a 1% fee and deposits sales net of the fee. Joumalize the sales transaction for the restaurant. Suppose Pagan's processor charges a 1% fee and deposits sales using the gross method. Journalize the sales transaction for the restaurant. 9. Suppose Pagan's processor charges a 1% fee and deposits sales net of the fee. Journalize the sales transaction for the restaurant. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Apr. 30 10. Suppose Pagan's processor charges a 1% fee and deposits sales using the gross method. Joumalize the sales transaction for the restaurant. Date Apr. 30 Accounts and Explanation Debit Credit
Subject: accounting
A couch is priced at $980.00 if bought for cash. On the stores installment plan, a down payment of $100 and 24 payments of $45 each are required. What is the finance charge?
Find the outstanding balance due at the end of the credit period. Scotty purchased merchandise with a list price of $235,000 with an invoice date of February 10th. He receives the goods on February 15. He is offered a 20/5/5 trade discount and terms of sale 3/15,1/25, n60. He makes a $60,000 partial payment on February 18 and a second partial payment of $40,000 on March 1
Rangling Company, buys goods from A.J. Stop Company that gives sales terms of 2.5/10, net 30 days. Rangling has annual gross purchases of $1,000,000. Calculate the maximum amount of costly trade credit that Rangling could get, assuming it abides by the A.J.’s credit terms? (Assume a 365-day year.)
Belts are shipped to the buyer on June 4 at a cost of $5500.00. The terms on invoice are 3/10, n/60. When is the last day the buyer can get the cash discount? If the buyer decides to pay for the shipment on June 30. What is the net amount to be paid?
A large retailer obtains merchandise under the credit terms of 3/10, net 40, but routinely takes 55 days to pay its bills. (Because the retailer is an important customer, suppliers allow the firm to stretch its credit terms.) What is the retailer's effective cost of trade credit? Assume a 365-day year. Do not round intermediate calculations. Round your answer to two decimal places.
An invoice for a radio cost 1,220 is dated August 3, with the sales term 4/10 EOM. If the bill is paid on September 7, how much is due?