Star Mobile Store-bought phones worth $40,000. Terms include 2/10, n/30. If they pay within the discount period, calculate the amount of payment after cash discount. General Account
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Star Mobile Store-bought phones worth $40,000. Terms include 2/10, n/30. If they pay within the discount period, calculate the amount of payment after cash discount. General Account
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- If Abby INC sells items to a customer who uses a credit card for $1100 and there is a credit card fee of 1.5% Abby will record an : ______ Round your final answer to the nearest dollar A. DEBIT TO ACCOUNT RECIEABLE FOR $1083 B. Credit to sales revenue for $1083 C. debit to sales expense for $17 D. Debit to credit card discount expense for $17A retailer purchases merchandise with a catalog list price of $34,900. The retailer receives a 24% trade discount and has credit terms of 2/10, n/30. How much cash will be needed to pay this invoice within the discount period (Round your answer to the nearest dollar)?Dog
- Give the ending balanceYou receive an invoice for $18,300 with terms of 5/15, n/60. If the supplier has a policy of allowing a cash discount for partial payments and you pay $11,500 within the discount period, calculate the amount of credit you will receive for this payment. a) $12,105.26 b) $12,105.0 c) $12.105What is the net income payable after the discount
- When you use a credit card, the credit card company charges a fee to the merchant, which ranges from 3% to 5%, on your purchase. Suppose you bought a high-definition TV for $310 and asked if the seller would give you a discount for paying cash. What might be a reasonable discount? A reasonable discount would be in the range of $__ to $__An invoice for a laptop computer that costs $625.68 is dated September 15, with sales terms of 3/10 EOM. When must the invoice be paid to take advantage of the discount?Important Note! Before you start working on this problem, watch the Hint video. This video shows you exactly how to work this problem. Compute the amount to be paid for each of the four separate invoices assuming that all invoices are paid within the discount period a. b. Merchandise (gross) $ S C. $ d. $ 7,800 24,200 80.600 17,000 Terms 2/10, n/60 1/15, n/90 1/10, n/30 3/15, n/45 Payment
- Question Golden Restaurant's May credit card statement shows: beginning balance $8,000, purchases $12,000, payments $15,000, and bank charges $100. Give the ending balance.A merchandiser receives payment in full after the expiration of the discount period on a P3,000 sales invoice, terms 3/15, n/30. The journal entry would include a: debit to cash for P2,910 credit to accounts receivable for P2,910 debit to accounts receivable for P3,000 debit to cash for P3,000American Signs allows customers to pay with their Jones credit card and cash. Jones charges American Signs a 3.5% service fee for each credit sale using its card. Credit sales for the month of June total $328,430, where 40% of those sales were made using the Jones credit card. Based on this information, what will be the total in Credit Card Expense at the end of June?