A company purchased $3,700 of merchandise on July 5 with terms 3/10, n/30. On July 7,...
A company purchased $3,700 of merchandise on July 5 with terms 3/10, n/30. On July 7, it returned $410 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals:
Options:
a. $410
b. $3179
c. $3191
d. $3290
e. $3700
Homework Answers
Solution: $3,191
Working:
Total purchases = Purchases - Purchase return
Total purchases = $3,700 - $410 = 3290
3% discount is available for payment within 10 days, thus discount is 3290 * 3% = 99
Net payment = Total purchases - Discount
Net payment = 3290 - 99 = 3,191
Add Answer to:
A company purchased $3,700 of merchandise on July 5 with terms 3/10, n/30. On July 7,...
A company purchased $3,400 of merchandise on July 5 with terms 3/10, n/30. On July 7,...
A company purchased $3,400 of merchandise on July 5 with terms 3/10, n/30. On July 7, it returned $375 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: $375 $2.923 $2,934. $3,025. $3,400.
A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7,...
A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On July 8, it paid the invoice. The amount of the cash paid on July 8 equals: A) $200 B) $1,564. C) $1,568 D) $1,600 E) $1,800. Select one: O A. Choice A O B. Choice B O C. Choice C O D. Choice D O E. Choice E A company purchased $1,800 of merchandise on July 5...
A company purchased $3000 of merchandise on july 5 with terms 2/10, n/30. On july 7,...
A company purchased $3000 of merchandise on july 5 with terms 2/10, n/30. On july 7, it returned $330 worth of merchandise. On july 8, it paid the full amount due. The amount of the cash paid on july 8 equals: a) 330 b) 2610 c)2617 d) 2670
A company purchased $3,000 of merchandise on July 5 with terms 2/10, n/30. On July 7,...
A company purchased $3,000 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $400 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: Multiple Choice $400. $2,610. $2,548. $2,600. $3,000.
A company purchased $2,300 of merchandise on July 5 with terms 1/10, 1/30. On July 7,...
A company purchased $2,300 of merchandise on July 5 with terms 1/10, 1/30. On July 7, it returned $700 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: Multiple Choice $700 $2,027 o $1584 a $1,600 $2,300
A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7,...
A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On July 28, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, The correct journal entry to record the purchase on July 5 is:
A company purchased $3,800 of merchandise on July 5 with terms 3/10, n/30. On July 7,...
A company purchased $3,800 of merchandise on July 5 with terms 3/10, n/30. On July 7, it returned $900 worth of merchandise. On July 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 12 is: Multiple Choice Debit Merchandise Inventory $2,900; credit Cash $2,900. Debit Cash $2,900; credit Accounts Payable $2,900. Debit Accounts Payable $2,900; credit Merchandise...
TB MC Qu. 04-107 A company purchased... A company purchased $2,200 of merchandise on July 5...
TB MC Qu. 04-107 A company purchased... A company purchased $2,200 of merchandise on July 5 with terms 3/10,n/30. On July 7, it returned $240 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: $240. $1894. $1,901. $1,960 $2200
A company purchased $2,700 of merchandise on July 5 with terms 2/10, n/30. On July 7,...
A company purchased $2,700 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $650 worth of merchandise. On July 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 12 is: Multiple Choice Debit Merchandise Inventory $2,050; credit Cash $2,050. Debit Cash $2,050; credit Accounts Payable $2,050. Debit Accounts Payable $2,700; credit Cash...
A company purchased $2,500 of merchandise on July 5 with terms 2/10, n/30. On July 7,...
A company purchased $2,500 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $550 worth of merchandise. On July 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 12 is: Multiple Choice Debit Merchandise Inventory $1,950; credit Cash $1,950. Debit Cash $1,950; credit Accounts Payable $1,950. Debit Accounts Payable $1,950; credit Merchandise...
A company purchased $3,400 of merchandise on July 5 with terms 3/10, n/30. On July 7, it returned $375 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: $375 $2.923 $2,934. $3,025. $3,400.
A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On July 8, it paid the invoice. The amount of the cash paid on July 8 equals: A) $200 B) $1,564. C) $1,568 D) $1,600 E) $1,800. Select one: O A. Choice A O B. Choice B O C. Choice C O D. Choice D O E. Choice E A company purchased $1,800 of merchandise on July 5...
A company purchased $2,300 of merchandise on July 5 with terms 1/10, 1/30. On July 7, it returned $700 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: Multiple Choice $700 $2,027 o $1584 a $1,600 $2,300
TB MC Qu. 04-107 A company purchased... A company purchased $2,200 of merchandise on July 5 with terms 3/10,n/30. On July 7, it returned $240 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: $240. $1894. $1,901. $1,960 $2200
Most questions answered within 3 hours.
-
What are the main components of the fermentation process and
give an explanation of each? Include...
asked 11 minutes ago -
Explain which types of cells in the body (belonging to which
organs, etc.) are sensitive to...
asked 15 minutes ago -
A single cable supports an 703-kg elevator car. What is the
tension in the cable when...
asked 17 minutes ago -
among the three different ways to link CSS specifications to an
HTML document (inline CSS, document...
asked 28 minutes ago -
(1) Write the net ionic equation for the reaction that occurs
when equal volumes of 0.191...
asked 55 minutes ago -
On the night of April 18, 1775, a signal was to be sent from the
Old...
asked 39 minutes ago -
For each of the following strong base solutions, determine
[OH−],[H3O+], pH, and pOH 4.8 x 10^-4...
asked 34 minutes ago -
The magnitude of the electric field inside a capacitor is 6.6 x
106 N/C. What is...
asked 34 minutes ago -
Organizations may have only a few products or many products in a
product line. Consider Campbell...
asked 47 minutes ago -
could you please help me to explain the nmr splitting
integration and chemical shift and assignment...
asked 43 minutes ago -
A
29.0 cm diameter coil consists of 23 turns of cylindrical copper
wire 2.00 mm in...
asked 49 minutes ago -
Q1
Two of your friends each received the results of their
first midterm exam this term....
asked 1 hour ago