Forest View Paper Supply receives bulk paper deliveries. Last shipment shows: standard boxes 240 at $35 each, premium boxes 160 at $45 each, with shipping $420. Determine the total invoice amount.
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- Need your help to solve this problem of general accountingThe following transactions were selected from among those completed by Bennett Retailers in November and December: Nov. 20 Sold 20 items of merchandise to Customer B at an invoice price of $5,600 (total); terms 3/10, n/30. 25 Sold two items of merchand:ise to Customer C, who charged the $700 (total) sales price on her Visa credit card. Visa charges Bennett Retailers a 2 percent credit card fee. 28 Sold 10 identical items of merchandise to Customer D at an invoice price of $9,100 (total); terms 3/10, n/30. 29 Customer D returned one of the items purchased on the 28th; the item was defective and credit was given to the customer. 6 Customer D paid the account balance in full. 20 Customer B paid in full for the invoice of November 20. Dec Required: Assume that Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts are treated as contra-revenues; compute net sales for the two months ended December 31. (Do not round your intermediate calculations. Round your answer to the…on june 3, concord comoany sold to chester merchandise having a sale price of $5,500 with terms 2/10,n/60,F.O.B. shipping point. An invoice totalling $99, terms n/30, was received by chester on june 8 from john booth transportservice for the freight cost. on june 12, the company received a check for the balance due from chester company. prepare journal entries on the concord company books to record all the events noted above under each of the following basis. (1) sales and receivable are entered at gross selling price. (2). sales and receivable are entered at net cash discounts.
- Consider the following transaction: On March 6, Fun Cards sells 590 card decks with a sales price of $10 per deck to Padma Singh. The cost to Fun Cards is $3 per deck. Prepare a journal entry under each of the following conditions. Assume MoneyPlus charges a 3% fee for each sales transaction using its card. А. Payment is made using a credit, in-house асcount. В. Payment is made using a MoneyPlus credit card. If an amount box does not require an entry, leave it blank. Round your answers to two decimal places. 88 A. Mar. 6 To record sale of card decks Mar. 6 To record cost of sale B. Mar. 6 To record sale of card decks, 3% credit card fee 88 Mar. 6 To record cost of sale II II 1II I01. 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?.Bennett Retailers had the following transactions in November and December: November 20 Sold 20 items of merchandise to Customer B at an invoice price of $6,500 (total); terms 3/10, n/30. November 25 Sold two items of merchandise to Customer C, who charged the $800 (total) sales price on her Visa credit card. Visa charges Bennett Retailers a 3 percent credit card fee. November 28 Sold 10 identical items of merchandise to Customer D at an invoice price of $10,000 (total); terms 3/10, n/30. November 29 Customer D returned one of the items purchased on the 28th; the item was defective and credit was given to the customer. December 6 Customer D paid the account balance in full. December 20 Customer B paid the November 20 invoice in full. Required: Compute net sales for the two months ended December 31. Note: Do not round your intermediate calculations. Round your answer to the nearest whole dollar amount.
- The following transactions were selected from among those completed by Bennett Retailers in November and December: November 20 November 25 November 28 November 29 December 6 December 20 Required: Sold 20 items of merchandise to Customer B at an invoice price of $5,700 (total); terms 2/10, n/30. Sold two items of merchandise to Customer C, who charged the $700 (total) sales price on her Visa credit card. Visa charges Bennett Retailers a 3 percent credit card fee. Sold 10 identical items of merchandise to Customer D at an invoice price of $9,600 (total); terms 2/10, n/30. Customer D returned one of the items purchased on the 28th; the item was defective and credit was given to the customer. Customer D paid the account balance in full. Customer B paid in full for the invoice of November 20. Assume that Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts are treated as contra-revenues; compute net sales for the two months ended December 31. Note: Do not round your…An invoice for accessories is dated December 27 and this paid on January 10. The trade discount is 30%, 20%, and 5% with terms of 2/10 as of April 1, FOB retailers distribution center, and shipping charges of $30 pre-paid by the vendor. There is a quantity discount of 1% on orders of $5000 and a 2% discount on orders of $7500 or more. What amount should be paid if the buyer purchase $10,000(list price) worth of merch ?The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to wholesalers and occasionally to retail customers: Record on page 10 of the journal Mar. 2 Sold merchandise on account to Equinox Co., $20,000, terms FOB destination, 1/10, n/30. The cost of the merchandise sold was $13,150. 3 Sold merchandise for $10,950 plus 6% sales tax to retail cash customers. The cost of merchandise sold was $7,100. 4 Sold merchandise on account to Empire Co., $51,450, terms FOB shipping point, n/eom. The cost of merchandise sold was $35,420. 5 Sold merchandise for $27,900 plus 6% sales tax to retail customers who used MasterCard. The cost of merchandise sold was $18,470. 12 Received check for amount due from Equinox Co. for sale on March 2. 14 Sold merchandise to customers who used American Express cards, $12,380. The cost of merchandise sold was $9,120. 16 Sold merchandise on account to Targhee Co., $28,500, terms FOB…
- The following transactions were selected from among those completed by Bennett Retallers in November and December: November 20 November 25 Sold 20 items of merchandise to Customer 8 at an invoice price of $6,400 (total); terms 2/10, n/30. Sold two items of merchandise to Customer C, who charged the $700 (total) sales price on her Visa credit card. Visa charges Bennett Retailers a 1 percent credit card fee. Sold 10 identical items of merchandise to Customer D at an invoice price of $9,600 (total); terms 2/10, n/38. Customer D returned one of the items purchased on the 28th; the item was defective and credit was given to the customer. December 6 Customer D paid the account balance in full. December 20 Customer 8 paid in full for the invoice of November 20. November 28 November 29 Required: Assume that Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts are treated as contra-revenues; compute net sales for the two months ended December 31. Note: Do not round your…Record the following selected transactions in the general journal of Lee’s TV & Electronics Repair. Assume that the company uses a periodic inventory system, Scotiabank charges merchants $0.50 per debit card transaction, PayPal charges 1% of sales as service fees and MasterCard charges 4% of sales as service fees. Mar. 4 Recorded Scotiabank debit card sales of $12,000, consisting of 150 transactions. 10 Recorded MasterCard credit card sales of $10,000. 15 Credit sales of $14,600 were recorded, 2/10, n/30. Apr. 1 AeroPlan card was accepted for $3,100 of payments. This card requires that receipts are submitted for payment manually. A 2% fee applies. May 8 PayPal sales of $35,000 was received. 18 Wrote off $700 of accounts receivables. 31 Bad debts were estimated to be 2% of the $750,000 accounts receivable balance. There was a $900 credit balance in the allowance for doubtful accounts.Prepare journal entries for the following transactions from Lumber Wholesale. Aug. 9 Sold 48,320 pounds of lumber with a sales price of $5.50 per pound to customer Homes Unlimited. Homes Unlimited paid with cash. The cost for this sale is $1.35 per pound. Aug. 10 Sold 34,700 pounds of lumber with a sales price of $6.75 per pound to customer Barry Njegren. Njegren paid using his in-house credit account. Terms of the sale are 4/15, n/35. The cost for this sale is $1.20 per pound. Aug. 11 Sold 50,330 pounds of lumber with a sales price of $4.60 per pound to customer Goodson Houses. Goodson paid using its American credit card. The cost for this sale is $1.40 per pound. American Credit Card Company charged Lumber Wholesale a 2.5% usage fee based on the total sale per transaction. Aug. 14 American Credit Card Company made a cash payment in full to Lumber Wholesale for the transaction from August 11, less any usage fees. Aug. 25 Barry Njegren paid his account in full with a cash…
