If a company purchases inventory for $50,000 with terms 2/10, n/30, and pays within the discount period, what is the amount of the payment? a) $49,000 b) $50,000 c) $51,000 d) $48,000
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- If a retailer purchased inventory in the amount of $680, terms 3/10, n/60, returned $120 of the inventory for a full refund, and received an allowance for $70, how much would the discount be if the retailer remitted payment within the discount window?If a customer purchased merchandise in the amount of $340, terms 3/10, n/30, returned $70 of the inventory for a full refund, and received an allowance for $65, how much discount would be applied if the customer remitted payment within the discount window?If a retailer made a purchase in the amount of $350 with credit terms of 2/15, n/60. What would the retailer pay in cash if they received the discount?
- ACCOUNTING questionA company makes a purchase of P2,100 of inventory, subject to credit terms of 3/10, n/45 and returns P500 of inventory prior to payment. What amount of the payment assuming payment is made within the discount period. P1,500 P1,455 P1,440 P1,552Merchandise invoiced at $8,900 is sold on terms 1/10, n/30. If the buyer pays within the discount period, what amount will be reported on the income statement as net sales?
- If merchandise sells for $3,500, with terms 3/15.n/45 , and the cost of the inventory sold is $2,100, the amount charged to sales under the net method of recording sales discounts is?Geran Company purchased merchandise inventory with an invoice price of $5,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Geran Company pays within the discount period? Question 13 options: A) $5,000 B) $4,900 C) $4,600 D) $4,500XYZ Company purchased inventory worth $50,000 on credit terms of 2/10, n/30. Calculate the amount XYZ Company would pay if they settle the invoice within the discount period.
- If merchandise is sold on account to a company for $1000, terms FOB shipping point, 1/10, n/30, and the seller prepays $50 in transportation costs, the amount of discount for early payment would be: a) $0 b) $5 c) $10 d) $10.50Under the periodic inventory system, the entry to record a purchase of P60,000, with terms 2/10. n/30 would include a. Debit to Accounts Payable for P58,800 b. Credit to Purchases for P60,000 c. Credit to Accounts Payable for P60,000 d. Debit to Purchase Discounts for P1,200XYZ Company purchased inventory worth $10,000 on credit with terms of 2/10, net 30. The company pays the invoice within the discount period. Calculate the amount paid and the cost of inventory if the company takes the discount.