Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $). Stock # Description Unit Price Amount 4811V Stereo Receivers 50 x $296.50 $ 511CX Blu-Ray Players 25 x $131.28 $ 6146M Home Theater Systems 40 x $657.12 $ 1031A LCD TVs 20 x $594.00 $ Merchandise Total $ Insurance + Shipping $ Invoice Total $ (b) What are the discount date and the net date if the shipment arrived on July 15? Discount Date Net Date (c) While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)? Returned merchandise$ Revised merchandise total$ (d) What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.) Cash discount$ Net amount due$ (e) If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)
Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $). Stock # Description Unit Price Amount 4811V Stereo Receivers 50 x $296.50 $ 511CX Blu-Ray Players 25 x $131.28 $ 6146M Home Theater Systems 40 x $657.12 $ 1031A LCD TVs 20 x $594.00 $ Merchandise Total $ Insurance + Shipping $ Invoice Total $ (b) What are the discount date and the net date if the shipment arrived on July 15? Discount Date Net Date (c) While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)? Returned merchandise$ Revised merchandise total$ (d) What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.) Cash discount$ Net amount due$ (e) If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $).
| Stock # | Description | Unit Price | Amount |
|---|---|---|---|
| 4811V | Stereo Receivers | 50 x $296.50 | $ |
| 511CX | Blu-Ray Players | 25 x $131.28 | $ |
| 6146M | Home Theater Systems | 40 x $657.12 | $ |
| 1031A | LCD TVs | 20 x $594.00 | $ |
| Merchandise Total | $ | ||
| Insurance + Shipping | $ | ||
| Invoice Total | $ |
(b)
What are the discount date and the net date if the shipment arrived on July 15?
Discount Date Net Date
(c)
While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)?
Returned merchandise$ Revised merchandise total$
(d)
What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)
Cash discount$ Net amount due$
(e)
If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education