Complete the following by calculating the cash discount and net amount paid:(If more than one discount, assume date of last discount.)Date ofGross amount ofinvoice (freightcharge alreadyincluded)FreightchargeTerms ofinvoiceDate ofpaymentinvoiceNone8/144/10, 3/15, n/308/26700CashdiscountNet amountpaid

Credit terms 4/10, 3/15, n/30 means that if payment is being made in 10 days, then 4% discount will…

Complete the following by calculating the cash discount and net amount paid: (If more than one discount, assume date of last discount.) Date of Date of Gross amount of invoice (freight charge already included) Freight charge Terms of invoice invoice payment $ None 8/14 4/10, 3/15, n/30 8/26 700 Cash discount Net amount paid

Complete the following by calculating the cash discount and net amount paid: (If more than one discount, assume date of last discount.) Date of Date of Gross amount of invoice (freight charge already included) Freight charge Terms of invoice invoice payment $ None 8/14 4/10, 3/15, n/30 8/26 700 Cash discount Net amount paid

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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reight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. Merchandise FreightPaid by Seller Freight Terms Returns andAllowances a. $90,000 $1,000 FOB shipping point, 1/10, n/30 $15,000 b. 110,000 1,575 FOB destination, 2/10, n/30 8,500
Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that al invoices were paid within the discount period. If required, round the answers to the nearest dollar. Credit for Refunds and Freight Paid by Seller Merchandise Freight Terms Allowances $6,300 $600 FOB shipping point, 2/10, n/30 $1,550 a. 2,900 600 FOB destination, 1/10, n/30 1,200 a.
Compute the amount to be paid for each of the four separate invoices assuming that all invoices are paid within the discount period. Merchandise Terms Payment (gross) a. $ 8,800 2/10, n/60 b. $ 25,700 1/15, n/90 C. $ 82,600 1/10, n/30 d. $ 19,500 3/15, n/45
Presented below are transactions related to Crane, Inc. May 10 (a) Purchased goods billed at $15,800 subject to cash discount terms of 2/10, r/60. Purchased goods billed at $13,800 subject to terms of 1/15, n/30. Paid invoice of May 10. Purchased goods billed at $10,300 subject to cash discount terms of 2/10, r/30. Your answer is partially correct. Prepare general journal entries for the transactions above under the assumption that purchases are to be recorded at net amounts after cash discounts and that discounts lost are to be treated as financial expense. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Accounts Payable Inventory Accounts Payable Debit 15800 13800 Credit 10
Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. Merchandise Freight Paid by Seller Returns and Allowances a. $21,800 - FOB shipping point, 1/10, n/30 $1,100 b. 12,000 $500 FOB shipping point, 1/10, n/30 1,400 c. 6,500 - FOB destination, 1/10, n/30 600 d. 2,900 100 FOB shipping point, 1/10, n/30 400 e. 3,600 - FOB destination, 1/10, n/30 - a. $fill in the blank 1 b. $fill in the blank 2 c. $fill in the blank 3 d. $fill in the blank 4 e. $fill in the blank 5
Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. Merchandise Freight Paid by Seller Returns and Allowances a. $14,800 - FOB shipping point, 1/10, n/30 $700 b. 11,500 $500 FOB shipping point, 1/10, n/30 1,400 c. 5,200 - FOB destination, 2/10, n/30 500 d. 4,300 200 FOB shipping point, 2/10, n/30 600 e. 3,600 - FOB destination, 2/10, n/30 -
Complete the following by calculating the cash discount and net amount paid: (If more than one discount, assume date of last discount.) Gross amount of invoice (freight charge already included) $ 625 Freight charge None Date of invoice 8/10 Terms of invoice 5/10, 4/15, n/30 Date of payment 8/22 Cash discount Net amount paid
Complete the following by calculating the cash discount and net amount paid: (If more than one discount, assume date of last discount.) Gross amount of invoice (freight charge already included) Freight charge date of invoice terms of service date of payment cash discount net amount paid $650 None 8/11 4/10,2/15, n/30 8/23
Calculate the cash discount and the net amount due the transaction (in $). Amount ofInvoice Terms ofSale CashDiscount NetAmount Due $15,660.00 2/10, n/45 $ $
Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar.
Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar. a. b. a. S b. $ Merchandise (Invoice Amount) $5,550 2,600 Freight Paid by Seller $700 300 Freight Terms FOB destination, 2/10, n/30 FOB shipping point, 1/10, n/30 Returns and Allowances (Invoice Amount) $1,300 800
Purchases Transactions Barans Company purchased merchandise on account from Springhill Company for $12,400, terms 1/10, n/30. Barans returned merchandise with an invoice amount of $1,900 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.

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