Complete the following by calculating the cash discount and net amount paid: LU 7-2(1) Gross amount of Invoice (freight charge already Frelght Included) Date of Terms of Date of Cash Net amount charge Involce Involce раyment discount pakd 7-15. $7,000 $100 4/8 2/10, n/60 4/15 7-16. $600 None 81 3/10, 2/15, n/30 8/13 7-17. $200 None 11/13 1/10 EOM 12/3 7-18. $500 $100 11/29 1/10 EOM 1/4 Complete the following: LU 7-2(2) Date of Amount of Amount Involce Actual partlal payment made partlal payment payment to Balance of tnvolce Terms date be credited outstanding 7-19. $700 2/10, n/60 5/6 $400 5/15 7-20. $600 4/10, n/60 7/5 $400 7/14

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Complete the following by calculating the cash discount and net amount paid: LU 7-2(1)
Gross amount of
Invoice (freight
charge already Freight
Included)
Date of
Terms of
Date of
Cash
Net amount
charge
Invokce
invoce
раyment
discount
pakl
7-15. $7,000
$100
4/8
2/10, n/60
4/15
7-16. $600
None
8/1
3/10, 2/15, n/30 8/13
7-17.
$200
None
11/13
1/10 EOM
12/3
7-18.
$500
$100
11/29
1/10 EOM
1/4
Complete the following: LU 7-2(2)
Date of
Amount of
Amount
Involce
Actual partlal
payment made
partlal
payment
payment to
be credited
Balance
of involce
Terms
date
outstanding
7-19.
$700
2/10, n/60
5/6
$400
5/15
7-20.
$600
4/10, n/60
7/5
$400
7/14
Transcribed Image Text:Complete the following by calculating the cash discount and net amount paid: LU 7-2(1) Gross amount of Invoice (freight charge already Freight Included) Date of Terms of Date of Cash Net amount charge Invokce invoce раyment discount pakl 7-15. $7,000 $100 4/8 2/10, n/60 4/15 7-16. $600 None 8/1 3/10, 2/15, n/30 8/13 7-17. $200 None 11/13 1/10 EOM 12/3 7-18. $500 $100 11/29 1/10 EOM 1/4 Complete the following: LU 7-2(2) Date of Amount of Amount Involce Actual partlal payment made partlal payment payment to be credited Balance of involce Terms date outstanding 7-19. $700 2/10, n/60 5/6 $400 5/15 7-20. $600 4/10, n/60 7/5 $400 7/14
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