Hello tutor please provide this problem general accounting question Bradley Corporation shipped out an order on March 10th (FOB destination) for atotal of $22,450.75. The terms of payment are 3/15, net 45. The order arrived onMarch 12th. $2,125.50 worth of inventory was returned on March 13th since thecustomer was dissatisfied.How much will the customer pay if they take advantage of the cash discount?A. $19,742.14B. $20,091.19C. $19,598.77D. $21,213.50

Step 1:Given,Total Sales: $22,450.75Terms of payment: 3/15, net 45 [3% discount if paid within 15…

Answered: Bradley Corporation shipped out an…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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What is the balance in the AR account on February 17th ? General accounting
You place an order for 310 units of inventory at a unit price of $160. The supplier offers terms of 1/15, net 90. a-1. How long do you have to pay before the account is overdue? Days until overdue days a-2. If you take the full period, how much should you remit? (Omit "$" sign In your response.) Remittance $ b-1. What is the discount being offered? Discount offered Remittance b-2. How quickly must you pay to get the discount? Number of days days b-3. If you do take the discount, how much should you remit? (Omit "$" sign in your response.) %6 $ c-1. If you don't take the discount, how much interest are you paying implicitly? (Omit "$" sign in your response.) Implicit interest $ c-2. How many days' credit are you receiving? Days' credit days
On March 12th, Company B sold $800 of inventory to a customer for $1,400. The customer paid $400 and promised to pay the difference within 10 days. Based on this transaction, match the account on the left with its appropriate debit or credit entry on the right. Inventory [ Choose] Accounts Receivable [Choose] Cash [ Choose] Cost of Goods Sold [ Choose ] Sales Revenue V[ Choose ] Credit $1,400 This account should not be indcluded in this entry. Debit $1,000 Debit $800 Net Income Credit $800 Debit $400 Debit $1,400
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1. On February 5, the company purchased $50,000 of merchandise at FOB shipping point. shipping costs $5,000 and will arrive 6 days later. there is an agreement with the seller that the seller prioritizes transportation costs. 2% discount terms for 10 days. Journalize this transaction. 2. the same data make a journal using fob destination 3. when the goods receipt report is made. 4. What is the contents of the invoice that will be received from the seller?.
16) Can i get help with this question please
On June 1, Sabrex Electric bought $7,500 of goods with terms of 3/15, n/45. Required:Fill in the blanks below with dollar amounts, if any are appropriate. If an ending balance is 0, enter 0.(Use the net price method for items a. and b. below.) a. If payment was made on June 15, Sabrex would debit Accounts Payable for $fill in the blank 1. b. If payment was made on July 3, Sabrex would debit Purchase Discounts Lost for $fill in the blank 2.(Use the gross price method for c. and d. below.) c. If payment is made on June 15, Sabrex would credit Cash for $fill in the blank 3. d. Assuming no payment had yet been made, Sabrex would debit Purchase Discounts Lost for $fill in the blank 4 in the adjusting entry at July 31 (fiscal year-end).
Allister's payables ledger control account has a balance at 1 October 20X8 of $34,500 credit. During October, credit purchases were $78,400, cash purchases were $2,400 and payments made to suppliers, excluding cash purchases, and after deducting cash discounts of $1,200, were $68,900. Purchase returns were $4,700. What was the closing balance on the purchase ledger control account? %24
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For questions 25-27, your answer will be add on bank side, subtract on bank side, 21. A company sells $23,980 of inventory to a customer on account. The terms are 2/10, n30. If the customer pays in 10 days, write the entry to record receipt of the payment.
Reynolds Corporation shipped out an order on March 10th (FOB destination) for a total of $21,450.75. The terms of payment are 3/15 net 45. The order arrived on March 12th. $1,875.30 worth of inventory was returned on March 13th since the customer was not satisfied with these units. On March 15th, a credit of $4,125.60 was granted since some items were slightly damaged, but the customer decided to keep them. The customer made the payment on March 18th. What is the balance in the Accounts Receivable (AR) account on March 14th?
a. Record Navis, Incorporated's sales for a month at $75,000. The items sold cost $62,500. Navis records sales at the total invoice amount. b. Record the return of $7,500 of the above sales within the 30-day return period. c. Record the receipt of payment on the remainder of the month's sales, assuming that customers purchasing $50,000 took advantage of a 2 percent cash discount for early payment. None of the customers taking advantage of the cash discount were among those that returned their purchases. Complete this question by entering your answers in the tabs below. Required A Required B Required C Record the receipt of payment on the remainder of the month's sales, assuming that customers purchasing $50,000 took advantage of a 2 percent cash discount for early payment. None of the customers taking advantage of the cash discount were among those that returned their purchases. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first…

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