On April 6, Year 1, Home Furnishings purchased $37,000 of merchandise from Una Imports, terms 2/10 n/45, On April 8, Home returned $7,800 of the merchandise to Una Imports for credit. Home paid cash for the merchandise on April 15, Year1. a. What is the amount that Home Furnishings must pay Una Imports on April 15?
On April 6, Year 1, Home Furnishings purchased $37,000 of merchandise from Una Imports, terms 2/10 n/45, On April 8, Home returned $7,800 of the merchandise to Una Imports for credit. Home paid cash for the merchandise on April 15, Year1.
a. What is the amount that Home Furnishings must pay Una Imports on April 15?
b. Record the events in a horizontal statements model. In the
c. How much must Home Furnishing pay for the merchandise purchased if the payment is not made until April 20, Year 1. ?
d. Record the payment of the merchandise in Requirement (c) in a horizontal statements model. In the cash Flow column, use OA to designate operating activity, IA for investing activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave cell blank.
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