Freight terms Determine the amount to be paid in full settlement of each of the two invoices (a) and (b), assuming that the 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. Merchandise - $8,300.00      Freight Paid by Seller - $600.00      Freight Terms - FOB shipping point, 2/10, n/30      Returns and Allowance - $1,150.00 B. Merchandise - $4,400.00     Freight Paid by Seller - $600.00     Freight Terms - FOB destination, 1/10, n/30     Returns and Allowances - $900.00

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A: The buyer has paid the amount within the discounted period.  So the refund will also be made after…

Q: he entry to record the receipt of payment within the discount period on a sale of $2400 with terms…

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Q: Determine the amount to be paid in full settlement of the invoice assuming that credit for returns…

A: FOB destination sale: In FOB destination sale freight costs are paid by the seller and ownership is…

Q: freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…

A: IF the term is FOB shipping point then freight is added to the total cost but if the term is FOB…

Q: Calculate (A) cash discount (B) net amount paid Gross Invoice (including freight) Freight $50…

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Q: Purchase-related transactionsThe debits and credits from four related transactions, (1) through (4),…

A: a. To determine  Purchases is an activity of acquiring the merchandise inventory of a business. To…

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A: Concept of terms 1/10, n/eom: 1/10 means 1% discount is valid of the payment has been made within…

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Q: Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns…

A: In the case of FOB Shipping pointAmount to be paid = ( Purchases - Return ) * ( 1 - Discount rate )…

Q: Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on account, $110,200,…

A: The question is based on the concept of Financial Accounting. When goods are sold on credit then the…

Q: A sales invoice included the following information: merchandise price, $7,100; terms 1/10, n/eom;…

A: The amount of cash that should be received by the seller = Invoice price + Freight charges –…

Q: Complete the following by calculating the cash discount and net amount paid: (If more than one…

A: Note: 2/10,1/15, n/30: Here, 2 represents the discount rate if payment is made within ten days and 1…

Q: Calexico trading recorded the following events involving a recent purchase of merchandise:…

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Q: Determine the amount to be paid in full settlement of the invoice assuming that credit for returns…

A: FINAL SETTLEMENT AMOUNT  Final Settlement Amount is Computed by Deducting Value of Discount From…

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A: Journal: Recording of a business transactions in a chronological order.

Q: The buyer received an invoice from the seller for merchandise with list price of RO 7500 and credit…

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Q: Trade discounts of 20/10 may be taken on an invoice that totals $938.50. This amount includes…

A: Amount due if invoice paid within discount period = invoice value - prepaid freight cost - trade…

Q: Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming…

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Q: Freight terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…

A: Sales Discount: It implies a reduction or decrease in the price of the product that is sold by the…

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A: Sales invoice:Sales invoice refers to the document which is used to inform the customer the amount…

Q: Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…

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Q: Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns…

A: For FOB shipping terms, the freight charges are to be paid by the buyer.For FOB destination terms,…

Q: Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming…

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Q: On January 15, 2021, X Company bought merchandise from Y Company amounting to P30,000 (VAT…

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Q: Using T accounts for Cash, Accounts Payable, Purchases, Purchases Returns and Allowances, Purchases…

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Q: A sales invoice included the following information: merchandise price, $9,700; terms 1/10, n/eom,…

A: Sales invoice: Sales invoice refers to the document which is used to inform the customer the amount…

Q: A sales invoice included the following information: merchandise price, $9,000; terms 1/10, n/eom;…

A: The seller is a person who sells the goods and would receive money for the goods sold.

Q: amount to be paid in full settlement

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Q: The amount of discount to be recorded if the invoice is paid within the discount period on a…

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Q: Merchandise is purchased for $3,300 on September 2 subject to terms of 2/10, n/30, FOB destination.…

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Q: Complete the following by calculating the cash discount and net amount paid: (If more than one…

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Q: a. $ b. $ c. $ d. $ e. $

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