Terms Using the information given in the table, find Cash Discount/Dating cash discount due date. ****Note: We are using 30 day month method where all months are considered to have 30 days only to make calculation easier. Do not use an actual calendar to count discount due dates. Show your work/equation in the table.

Terms Using the information given in the table, find Cash Discount/Dating cash discount due date. ****Note: We are using 30 day month method where all months are considered to have 30 days only to make calculation easier. Do not use an actual calendar to count discount due dates. Show your work/equation in the table.

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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Your company has loaned money to an outside entity. You earned the monthly interest on the loan but did not receive the payment yet. The payment is expected to be received next month. To capture the interest expected to be received in the future you have created account #901 , Interest Receivable in your chart of accounts and booked the journal entry to DR: Interest Receivable and CR: Interest Income. While the basic journal entry was correct, your manager is questioning how you setup this new account. Based on this image of the chart of accounts below what needs to be corrected and how would you correct this?
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Can Tech Supply recently received two invoices, which were subsequently paid. The anmounts. terms. invoice dates and the dates the payments were made are shown below Based an this intomation determine the amounts of the payments that would have been made to settle the bils For fu marks your arswers) should be rounded to the nearest cent Cick here for help computing the number of days between two dates Invoice Amount Credit Terms Invoice Date Payment Date Payment $1,103.29 3/15, n/20 April 6 April 19 0.00 $1,611.72 1.25/10, n/20 June 18 June 29 0.00
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Complete the table for the last three payments. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Number Amount Paid Interest Paid Principal Repaid Outstanding Principal Balance 30 31 32 $0 Total Paid = $ (Do not round until the final answer. Then round to the nearest cent as needed.) Interest Paid = S (Do not round until the final answer. Then round to the nearest cent as needed.)
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I need 1,2,3,4, and 6 answered without using excel please.
Complete the following: (Use Table 7.1) Invoice Date goods are received Terms Last day of discount period Final day bill is due (end of credit period) June 18 1/10, n/30