None QUESTION 5a) Maju Jaya Trading received 40 pairs of sport shoes from a manufacturer with discountsof 6%, 5% and 1%. The invoice dated 28th January 2022 has cash discount terms of 4/10,3/20, n/30. The total list price was RM1,950. Find the total payment if the payment wasmade on 8th February 2022.

Step 1: Calculate the Net Price After Trade DiscountsMaju Jaya Trading received three successive…

Answered: QUESTION 5 a) Maju Jaya Trading…

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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2.a) Twinky Trading sells an item for RM 3500 less 20% and 15%. Find the net price. 2.b) A retailer received an invoice of of RM 15000 dated 16 February 2019 was offered 6% trade discount and cash discount terms of 5/10, n/30. Find the net payment if the invoice was paid on 24 February 2019.
QUESTION 3 On the 30 January 2020, a retailer received an invoice worth RM17 500 including transportation cost of RM200 and insurance of RM150. He received trade discounts of 13% and 8% and the cash discount terms of 5/12, 3/16, n/45. i) Calculate the single discount equivalent rate to the trade discounts given. ii) Find the last date to get 3% cash discount. Find the total payment if the retailer paid on 22 February 2020.
An invoice dated 15th March 2021 for RM750 was paid on the 31st March 2021. If the trade discount was 15% and the cash discount terms were 8/10, 5/30 and n/30, find:a) The trade discount offered.b) The cash discount offered.c) The amount paid.
37) Royal mart purchased goods on 12th March 2019 for RO 54,000 from Google mart. Calculate the Net amount to be paid, if the credit term followed as n/60. a. RO 52,920 b. RO 63,000 c. RO 54,000 d. RO 9,000
On 10th October 2023, you purchased office furniture from a supplier for £2,500, with a VAT rate of 20%. Record the purchase and the VAT payable in the journal entries table
A. On June 1, 2020, Eleno Buray Jr. Forest Products sold merchandise with a Php120,000 list price. Trade Discounts Credit Terms Date Paid a. 30% 2/10, n/30 June 8 b. 40% 1/10, n/30 June 15 c. - 2/10, n/30 June 11 Required: For each of the sales terms, determine the following: a. The amount ofrecorded saleb. The amount ofcash received upon payment
Please answer this correctly. Thank you!
Do i, ii, iii
On 03.03.20X1 TK sold goods at a price of EUR 35,000 plus VAT on target to the customer CB. TK will receive the payment on March 20th, 2020X1, with a 4% discount deducted, by transfer to his company bank account. At the end of 20X1 it turns out that CB has reached a sales target. CB will receive a bonus of EUR 595 (incl. VAT) by bank transfer on 12/30/20X1. Which of the following posting records result/result in 20X1 from the business transactions mentioned? Bank 41.055 EUR an Ford. also Lul 41.650 EUR customer bonuses 500 EUR Act 95 EUR cash discount expense 1.400 EUR an Bank 1.666 EUR Act 266 EUR Bank 41.650 EUR an revenues 35.000 EUR Act 6.650 EUR Bank 39.984 EUR an Ford. also Lul 41.650 EUR kash discount expense 1.400 EUR Act 266 EUR
A. Cash Discount1. An invoice for Php 70 250 dated March 25, terms 5/10, 2/30, n/60, is paidin full on April 20. What is the total amount paid to settle the account?2. Ms. Garcia received an invoice dated April 18 amounting to Php 30 123for her orderedplants. The invoice comes with cash discount terms, 5/5, 2/15, n/30, R.O.G.The plants were received on April 25. If she paid on May 12, how much did she pay?
Asap 2012 MARCHA retailer received an invoice of RM4,500 dated 6 July 2010 with trade discount offer of 15% and 10% and cash discount terms of 5/10, 3/15, n/30. i) Find the Single trade discount equivalent. ii) Find the amount of payment if the retailer decides to make a payment on 11 July 2010.
ABC has the following transactions during 2020:1. On March 1, 2020, ABC sold merchandise on account to Customer 1 for €7,750. ABCoffers a cash-discount of 2% if payment is made within 20 days of the sale. Otherwisethe full amount, net of returns and allowances, is due in 30 days.2. On March 10, 2020, Customer 1 returned merchandise worth €1,550 to ABC.1. 3.On March 15, 2020, Customer 1 paid for the merchandise.3. On April 1, 2020, ABC loaned €10,000 to XZ with a 1-year, 10% note.4. On November 1, 2020, received a €4,000, 6-month, 5% note in exchange for Customer’s2 outstanding accounts receivable.5. On December 16, 2020, sold merchandise to Customer 3, receiving a €4,500, 3-months,8% note.6. On December 31, 2020, the interest revenue accrued is recognized on all notesreceivable. a. Record the collection of note receivable as their mature in 2021.

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