Home / Questions / On September 6, Mark purchased merchandise for his electric store. The invoice was for $3
On September 6, Mark purchased merchandise for his electric store. The invoice was for $35,000 plus freight of $750, terms 2/15, n/30. The freight was included on the invoice. On September 10, Mark returned merchandise for $5,000 credit. On September 19, Mark paid the amount owed. Fill in the blanks below.
a) The credit to Accounts Payable on September 6 is ________________.
b) The debit to Freight-In on September 6 is ________________.
c) The debit to Accounts Payable on September 10 is ________________.
d) The credit to Purchases Discount on September 19 is ________________.
e) The credit to Cash on September 19 is ________________.
74) Explain the difference between F.O.B. shipping point and F.O.B. destination.
75) Determine the total cost of a purchase paid for within the discount period with an invoice price of $5,000 and credit terms of 2/10, n/30 when $1,500 has already been returned for credit. The goods were purchased with freight terms of F.O.B shipping point and freight of $80.
Dec 06 2019 View more View Less
Mika earns $314 per week which she spends entirely at the grocery store, purchasing either food or alcohol. The price of food is $1/unit, while the price of alcohol is $5...Jun 01 2021
On November 1, 20x1 Zamfir Company, a U.S. corporation, purchased minerals from a Russian company for 2,000,000 rubles, payable in 3 months. The relevant exchange rates b...Mar 23 2020
Which is not a basic condition for Pareto efficiency? A. Product mix efficiency B. Government efficiency C. Exchange efficiency D. Production efficiencyMay 26 2021
Under the cease and desist order issued by the Bureau of Consumer Protection, a party assents to sign an order which restrains the promotional activity deemed offensive.S...Aug 18 2021
Multiple statements: The following are account balances as of September 30, 20X1, for Exton Outpatient Center. Prepare (a) a balance sheet, (b) a statement of operations,...May 28 2020
shows a combined cycle formed by a gas turbine and an organic Rankine bottoming cycle. Steadystate operating data are labeled on the figure. Owing to internal irreversibi...May 05 2020
You are going to save money for your son's education.You have decided to place$1,514 every half year at the end of period into saving account earning 9.38 percent per yea...May 25 2018
Draw the Lewis electron dot structures for (methyl chloride, a topical anesthetic), (hydrogen peroxide, with an O-O bond), and (with an N-O bond).Jul 20 2021
(a) Draw two resonance structures of the cation shown below, shifting only one electron pair in each step. Be sure to include the formal charge on structures B and C. Onl...May 23 2021
Blue Angel, Inc., a private firm in the holiday gift industry, is considering a new project. The company currently has a target debt–equity ratio of .35, but the industry...Apr 14 2020