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Name Date Directions Solve the following problems, Write your answers in the blanks provided, Place commas and dollar signs in answers as needed. A. Find the cash discount amount and the net amount due on these invoices. Assume each invoice is paid within the discount period. Round your answers to the nearest cent. OBJECTIVES 2, 3 Invoice Amount Terms Cash Discount Net Amount Due $623.50 2/10, n/30 2. 1. $4,635.65 3/10, n/60 3. 4. $6,250.81 1/15, n/45 5. 6. B. Determine the cash discount and net amount due on these invoices. Round your answers to the nearest cent. OBJECTIVES 4, 5 Paid Within Net Invoice Cash Shipping Charges Discount Returned Amount Amount Terms Period Merchandise Discount Due $534.78 2/10, n/45 $13.25 7. 8. yes none $638.00 1/10, n/30 $33.50 9. 10. yes none $213.72 2/10, n/30 $15.50 11. 12. no none C. Determine the credit given for partial payment, balance due, and cash discount on these invoices. OBJECTIVE 6 Invoice Partial Credit Balance Cash Amount Terms Payment Given Due Discount $1,189.40 2/10, n/30 $290.00 13. 14. 15. $1,987.00 3/10, n/45 $1,400.00 16. 17. 18.

Name Date Directions Solve the following problems, Write your answers in the blanks provided, Place commas and dollar signs in answers as needed. A. Find the cash discount amount and the net amount due on these invoices. Assume each invoice is paid within the discount period. Round your answers to the nearest cent. OBJECTIVES 2, 3 Invoice Amount Terms Cash Discount Net Amount Due $623.50 2/10, n/30 2. 1. $4,635.65 3/10, n/60 3. 4. $6,250.81 1/15, n/45 5. 6. B. Determine the cash discount and net amount due on these invoices. Round your answers to the nearest cent. OBJECTIVES 4, 5 Paid Within Net Invoice Cash Shipping Charges Discount Returned Amount Amount Terms Period Merchandise Discount Due $534.78 2/10, n/45 $13.25 7. 8. yes none $638.00 1/10, n/30 $33.50 9. 10. yes none $213.72 2/10, n/30 $15.50 11. 12. no none C. Determine the credit given for partial payment, balance due, and cash discount on these invoices. OBJECTIVE 6 Invoice Partial Credit Balance Cash Amount Terms Payment Given Due Discount $1,189.40 2/10, n/30 $290.00 13. 14. 15. $1,987.00 3/10, n/45 $1,400.00 16. 17. 18.

FINANCIAL ACCOUNTING
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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8.2 Exercises Name Date Directions Solve the following problems. Write your answers in the blanks provided. Place commas and dollar signs in answers as needed. A. Find the cash discount amount and the net amount due on these invoices. Assume each invoice is paid within the discount period. Round your answers to the nearest cent. OBJECTIVES 2, 3 Invoice Amount Terms Cash Discount Net Amount Due $623.50 2/10, n/30 1. 2. $4,635.65 3/10, n/60 3. 4. $6,250.81 1/15, n/45 5. 6. B. Determine the cash discount and net amount due on these invoices. Round OBJECTIVES 4, 5 your answers to the nearest cent. Paid Within Invoice Net Discount Returned Shipping Charges Amount Cash Amount Terms Period Merchandise Discount Due $534.78 2/10, n/45 yes none $13.25 7. 8. $638.00 1/10, n/30 $33.50 yes none 9. 10. $213.72 2/10, n/30 $15.50 no none 11. 12. C. Determine the credit given for partial payment, balance due, and cash discount on these invoices. OBJECTIVE 6 Invoice Partial Credit Balance Cash Amount Terms Payment Given Due Discount $1,189.40 2/10, n/30 $290.00 13. 14. 15. $1,987.00 3/10, n/45 $1,400.00 16. 17. 18. D. Calculate cash discounts and net amounts due. OBJECTIVES 2, 3, 5, 6 19. Corner Grocery received an invoice for $689.30, dated October 8, with terms 2/10, n/30. How much should they pay on October 15? 20. How much should the store pay on October 20? 21. Suppose the invoice above included shipping charges of $32.80 and was paid on October 15. How much does the store pay on this invoice? E. Use Excel to calculate the following invoices. OBJECTIVE 7 22. Retrieve ch08ex01.xlsx. Follow the directions. Save the file as ch08ex01a.xlsx. 23 Retrieve ch08ex02.xlsx. Follow the directions. Save the file as ch08ex02a.xlsx. 8.2 Cash Discounts 303
Transcribed Image Text:8.2 Exercises Name Date Directions Solve the following problems. Write your answers in the blanks provided. Place commas and dollar signs in answers as needed. A. Find the cash discount amount and the net amount due on these invoices. Assume each invoice is paid within the discount period. Round your answers to the nearest cent. OBJECTIVES 2, 3 Invoice Amount Terms Cash Discount Net Amount Due $623.50 2/10, n/30 1. 2. $4,635.65 3/10, n/60 3. 4. $6,250.81 1/15, n/45 5. 6. B. Determine the cash discount and net amount due on these invoices. Round OBJECTIVES 4, 5 your answers to the nearest cent. Paid Within Invoice Net Discount Returned Shipping Charges Amount Cash Amount Terms Period Merchandise Discount Due $534.78 2/10, n/45 yes none $13.25 7. 8. $638.00 1/10, n/30 $33.50 yes none 9. 10. $213.72 2/10, n/30 $15.50 no none 11. 12. C. Determine the credit given for partial payment, balance due, and cash discount on these invoices. OBJECTIVE 6 Invoice Partial Credit Balance Cash Amount Terms Payment Given Due Discount $1,189.40 2/10, n/30 $290.00 13. 14. 15. $1,987.00 3/10, n/45 $1,400.00 16. 17. 18. D. Calculate cash discounts and net amounts due. OBJECTIVES 2, 3, 5, 6 19. Corner Grocery received an invoice for $689.30, dated October 8, with terms 2/10, n/30. How much should they pay on October 15? 20. How much should the store pay on October 20? 21. Suppose the invoice above included shipping charges of $32.80 and was paid on October 15. How much does the store pay on this invoice? E. Use Excel to calculate the following invoices. OBJECTIVE 7 22. Retrieve ch08ex01.xlsx. Follow the directions. Save the file as ch08ex01a.xlsx. 23 Retrieve ch08ex02.xlsx. Follow the directions. Save the file as ch08ex02a.xlsx. 8.2 Cash Discounts 303
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