Direction: Complete the Table. Compute what is asked for. Give the exact amount. Use PESO SIGN. NODECIMAL PLACES. ROUND-OFF Nearest peso. If your answer is NONE OR ZERO, PUT a 0 on the space.Name of BuyerCost ofMerchandiseTrade DiscountCash DiscountDate ofPurchaseDate PaidReturns madeafter 5 dayspurchaseFOBFreightChargesFreightcharges paidbyName of BuyerTradediscount, ifanyInvoice Price(before anyreams)Purchasediscount to berecorded uponpaymentAmount ofCash(payment) tobe creditedCompanyAster320,00012%1/10, n/eom15-March-1021-March-1021,000Shipping point4,100BuyerCompanyAsterABCDCompanyBougainvillea65,0005%,3%,2%2/eom.n/4515-Mar-1025-Mar-103,100.00Shipping point1,200.00BuyerCompanyBougainvilleaEFGTHCompanyCalabachi105,0001/15,2/10,n/eom15-Mar-1027-Mar-10Destination2,500.00SellerCompanyCalabachiIJKLCompanyDaisy25,300P500 discountfor everyP5,000purchased15-Mar-1016-Mar-10Destination1,100SellerCompanyDaisyMNOPCompanyEvergreen213,0005/25/com,n/6025-Mar-1025-Mar-105,200.00Shipping point3,000SellerCompanyEvergreenQRST

A credit term is set by a seller and agreed upon by a buyer for payments and delivery of goods. The…

Direction: Complete the Table. Compute what is asked for. Give the exact amount. Use PESO SIGN. NO DECIMAL PLACES. ROUND-OFF Nearest peso. If your answer is NONE OR ZERO, PUT a 0 on the space. Name of Buyer Cost of Merchandise Trade Discount Cash Discount Date of Purchase Date Paid Returns made after 5 days purchase FOB Freight Charges Freight charges paid by Name of Buyer Trade discount, if any Invoice Price (before any reams) Purchase discount to be recorded upon payment Amount of Cash (payment) to be credited Company Aster 320,000 12% 15-March-10 21-March-10 1/10, n/com 2/com.n/45 21,000 Shipping point 4,100 Buyer Company Aster A B C Company Bougainvillea 65,000 D 5%,3%,2% 15-Mar-10 25-Mar-10 3,100.00 Shipping point 1,200.00 Buyer Company Bougainvillea E F G H Company Calabachi 105,000 1/15,2/10, n/eom 15-Mar-10 27-Mar-10 Destination 2,500.00 Seller Company Calabachi I J K L Company Daisy 25,300 P500 discount for every P5,000 purchased 15-Mar-10 16-Mar-10 Destination 1,100 Seller Company Daisy M N O P Company Evergreen 213,000 5/25/com, n/60 25-Mar-10 25-Mar-10 5,200.00 Shipping point 3,000 Seller Company Evergreen Q R S T

Direction: Complete the Table. Compute what is asked for. Give the exact amount. Use PESO SIGN. NO DECIMAL PLACES. ROUND-OFF Nearest peso. If your answer is NONE OR ZERO, PUT a 0 on the space. Name of Buyer Cost of Merchandise Trade Discount Cash Discount Date of Purchase Date Paid Returns made after 5 days purchase FOB Freight Charges Freight charges paid by Name of Buyer Trade discount, if any Invoice Price (before any reams) Purchase discount to be recorded upon payment Amount of Cash (payment) to be credited Company Aster 320,000 12% 15-March-10 21-March-10 1/10, n/com 2/com.n/45 21,000 Shipping point 4,100 Buyer Company Aster A B C Company Bougainvillea 65,000 D 5%,3%,2% 15-Mar-10 25-Mar-10 3,100.00 Shipping point 1,200.00 Buyer Company Bougainvillea E F G H Company Calabachi 105,000 1/15,2/10, n/eom 15-Mar-10 27-Mar-10 Destination 2,500.00 Seller Company Calabachi I J K L Company Daisy 25,300 P500 discount for every P5,000 purchased 15-Mar-10 16-Mar-10 Destination 1,100 Seller Company Daisy M N O P Company Evergreen 213,000 5/25/com, n/60 25-Mar-10 25-Mar-10 5,200.00 Shipping point 3,000 Seller Company Evergreen Q R S T

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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A wholesaler sold merchandise inventory with in invoice price RO 16,000 to the customer of business and credit terms are 3/10, n/60. What is the amount payable to the wholesaler assuming that if the customer made the payment within the discount period? a. RO 480 b. RO 14,400 c. RO 16,000 d. RO 15,520
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Match the.last day the discount may be taken to each letter Invoice Date Date Merchandise was Last Date Received Terms for Cash Discount a. September 28 October 4 8/10 EOM b. July 28 August 2 8/10 ROG C. January 22 January 27 2/10 EOM d. March 21 March 27 2/10 ROG е. May 30 June 6 1/15, n/30 f. September 14 September 17 3/10,n/30
Use the following sales journal to record the transactions. All credit sales are terms of n/30. (If a box is not used in the journal leave the box empty; do not select information or enter a zero.) A (Click the icon to view the transactions.) Sales Journal Page Invoice Customer Post. Accounts Receivable DR Cost of Goods Sold DR Date No. Account Debited Ref. Sales Revenue CR Merchandise Inventory CR 2024 Jun. More Info Jun. 1 Sold merchandise inventory on account to Fred Jig, $1,270. Cost of goods, $1,000. Invoice no. 101. Jun. 8 Sold merchandise inventory on account to lan Frog, $2,225. Cost of goods, $1,580. Invoice no. 102. Jun. 13 Sold merchandise inventory on account to Jillian Trump, $380. Cost of goods, $300. Invoice no. 103. Jun. 28 Sold merchandise inventory on account to Glen Whitney, $900. Cost of goods, $610. Invoice no. 104. Print Done