Sweet Treats Bakery bought 3 mixers: first for $2,000, second for $2,400, and third for $2,800. A bulk purchase discount of 15% was applied to the total purchase. What the net cost of equipment after discount.
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- Norfolk Sporting Goods purchases merchandise with a catalog list price of $15,881. The retailer receives a 24% trade discount and credit terms of 2/10, n/30. What amount should Norfolk debit to the Inventory account? Round your answer to the nearest whole dollar.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 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?
- Suppose a certain appliance store purchases the following items. Calculate the extended total after the trade discounts for each line, the invoice subtotal, and the invoice total. (Round your answers to the nearest cent.) Trade Extended Quantity Unit Merchandise Unit List Discounts Total 150 ea. Blenders $39.95 20/15/15 $ 300 ea. Toasters $38.88 20/10/10 18 doz. Coffee Mills $244.30 30/9/6 12 doz. Juicers $480.00 25/10/5 Invoice subtotal Extra 5- % volume discount on total order - Invoice total %24 %24 %24 24Suppose a certain appliance store purchases the following items. Calculate the extended total after the trade discounts for each line, the invoice subtotal, and the invoice total. (Round your answers to the nearest cent.)16.On October 17, Conrad Beauty Supplies bought $42,000 of goods with terms of 1/10, n/30. One-half of the bill was paid on October 24, and the rest of the bill was paid on October 31. Assume that the seller has agreed to grant discounts on partial payments.Required: Prepare journal entries for October 24 using the: 1. Gross Method2. Net Method
- A wholesale firm made sales with the following list prices and trade discounts. Calculate the amount the firm will use to record each sale in the sales journal. A. List price of $1,700 and trade discount of 55 percent. B. List price of $1,300 and trade discount of 45 percent. C. List Price of $2,200 and trade discounts of 30 and 20 percent. (Round your answer to 2 decimal places.) A. Amount B. Amount C. AmountA buyer purchased 575 cropped tank tops to retail at $12.00. At the original price, 108 pieces sold. The buyer had a POS markdown to $9.99 and 152 pieces sold. The buyer had another POS markdown to $6.99 and 258 units sold. Calculate POS Markdown % for the saleButtons and Bows received a shipment with a list price of $2,600. The store received a trade discount of 25/15. How much does the store need to pay for this shipment?
- A retailer obtains a 21% retail discount, a 15% wholesale discount and 5% volume discount. The retailer pays $470 after discounts. What is the net price?In the event of 12.12 Grand Sale, Agigas warehouse gave trade discounts 40%,10% and 2% to their shop member i. Find the single discount equivalent to the given trade discounts ii. If the list price of an item is RM500, find the net price of the itemA company purchased $3,400 worth of merchandise. Transportation costs for the buyer were an additional $300. The company returned $235 worth of merchandise and then paid the invoice within the 1% cash discount period. The total cost of this merchandise is: Multiple Choice $3,335.00. S3, 263.00. $3, 431.00. $3, 433.35. $3,465.00.