Home / Questions / Determine the amount to be paid within the discount period for purchase with an invoice pr
Determine the amount to be paid within the discount period for purchase with an invoice price of $7,000, subject to credit terms of 2/10, n/30.
$________________
31) Determine the amount to be paid within the discount period for purchase with an invoice price of $3,000 and credit terms of 2/10, n/30 when $500 has already been returned for credit.
$________________
32) Determine the amount of credit to be earned on a full return of merchandise purchased with an invoice price of $4,000 and credit terms of 2/10, n/30 when full payment was made within the discount period.
$________________
33) Determine the amount to be paid to the vendor within the discount period for purchase with an invoice price of $2,500 and credit terms of 2/10, n/30 when $700 has already been returned for credit. The goods were purchased with freight terms of F.O.B shipping point and freight of $50 was included on the invoice.
$________________
34) On June 15, Paradise Park purchased merchandise for the race track. The invoice was for $4,500, terms 2/10, n/30. On June 20, Paradise Park returned $200 of merchandise for credit. On June 25, it paid the amount owed. Fill in the blanks below.
a) The debit to Purchases on June 15 is ________________.
b) The credit to Accounts Payable on June 15 is ________________.
c) The credit to Purchases Returns and Allowances on June 20 is ________________.
d) The credit to Cash on June 25 is ________________.
e) The credit to Purchases Discount on June 25 is ________________.
Journalize the following transactions. All purchases are subject to terms of 2/10, n/30. The periodic inventory method is used.
Dec 06 2019 View more View Less
Harrison Co. issued 15-year bonds one year ago at a coupon rate of 7.6 percent. The bonds make semiannual payments. If the YTM on these bonds is 5.3 percent, what is the ...
Apr 04 20201- Give me five ethical risks in micro Loans .2- How can these risks be solved !
Apr 22 20213. What is the difference between a cored structure and macro segregation?
May 23 2020Use Green's Theorem to evaluate the line integral along the given positively oriented curve,c is the triangle with vertices,(0,0) (2,2) and (2,4)
Jun 12 2021The total cost of a coat (including HST of 13% on the retail price) is $281.37. What is the retail price of the coat? View Solution: The total cost of a coat including HST of 13
Apr 29 2020The technology for producing personal computers suddenly improves and as a result, computer factories become more efficient. This change will causea. A shift to the right...
Apr 08 2021In the short run, a particular type of skilled labor is the only variable factor used by a firm. The manager of the firm has estimated that the marginal product of labor ...
Jul 12 2021Find the value of c in [0, 2] such that f'(c) is equal to the average rate of change of f(t). Use the function f(t) t to answer the following: t + 1
May 04 2021While Lewis dot diagrams will not prove that CO2 or H2O is linear or bent. Tell me their structural shape and what about their properties backs your answer.
May 20 2021A/an ________ quote in the United States would be foreign units per dollar, while a/an ________ quote would be in dollars per foreign currency unit. A) direct; direct ...
Apr 17 2021