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Calculator A sales invoice included the following information: merchandise price, $10,900; terms 1/10, 1/com, FOB shipping...
A sales invoice included the following information: merchandise price, $14,400; terms 1/10, /eom, FOB shipping point...
A sales invoice included the following information: merchandise price, $14,400; terms 1/10, /eom, FOB shipping point with prepaid freight of $700 added to the invoice. Assuming that a credit for merchandise returned of $800 (before discount) is granted prior to payment and the invoice is paid within the discount period, what amount of cash should be received by the seller2 Oa: $792 Ob. $15,748 Oc. $14,956 Od: $14,164
A sales invoice included the following information: merchandise price, $7,700; terms 1/10, n/eom, FOB shipping point wit...
A sales invoice included the following information: merchandise price, $7,700; terms 1/10, n/eom, FOB shipping point with prepaid freight of $1,200 added to the invoice. Assuming that a credit for merchandise returned of $1,000 is granted prior to payment and the invoice is paid within the discount period, what is the amount of cash that should be received by the seller? a.$990 b.$7,833 c.$9,813 d.$8,823
Merchandise subject to terms 3/10, n/30, FOB shipping point, is sold on account to a customer...
Merchandise subject to terms 3/10, n/30, FOB shipping point, is sold on account to a customer for $22,800. What is the amount of the sales discount allowable? Oa. $1,026 Ob. $342 Oc. $912 Od. $684
Emma Co, sold to Isabella Co. merchandise on account FOB shipping point, 1/10, net 30, for...
Emma Co, sold to Isabella Co. merchandise on account FOB shipping point, 1/10, net 30, for $10,500. Emma Co, prepaid the $820 shipping charge. Using the perpetual inventory method, which of the following entries will Isabella Co. make for the payment for the merchandise if Isabella Co, pays within the discount period? Oa. Accounts Payable --Emma Co., debit $10,500; Cash, credit $10,500 Ob. Accounts Payable-Emma Co., debit $11,215; Cash, credit $11,215 Oc. Accounts Payable-Emma Co., debit $10,500; Freight In, debit...
Test 2 Calculator ? Determine the amount to be paid in full settlement of each Invoice,...
Test 2 Calculator ? Determine the amount to be paid in full settlement of each Invoice, assuming that credit for returns and allowances was received prior to payment and that all Involces were paid within the discount period Freight Paid by Seller Returns and Allowances Merchandise Freight Terms a. $5,100 $355 5500 FOB Shipping Point, 1/10, net 30 FOB Destination, 2/10, net 45 b. $12,300 $69 $2,700 b. $ Previous Next All work saved. Save and Exit Submit Test for...
Oct. 3 Purchased merchandise from Hoagie Co., $9,950, terms FOB shipping point, 2/10, n/eom. Prepaid freight...
Oct. 3 Purchased merchandise from Hoagie Co., $9,950, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $220 was added to the invoice. Debit Credit Oct. 13 Paid Hoagie Co. for invoice of October 3. Debit Credit
Feb. 3 Purchased $3,600 of merchandise inventory on account under terms 1/10, nEOM and FOB shipping point.
Feb. 3 Purchased $3,600 of merchandise inventory on account under terms 1/10, nEOM and FOB shipping point. 7 Returned $800 of defective merchandise purchased on February 3 9 Paid freight bill of $100 on February 3 purchase. 10 Sold merchandise inventory on account for $4,500. Payment terms were 3/15, n/30. These goods cost the company $2,250. and the discount debt 12 Paid amount owed on credit purchase of February 3, less the return 28 Received cash from February 10 customer in full settlement of their...
Calculator Abbey Co. sold merchandise to Gomez Co. on account, $34,000, terms 2/15. net 45. The...
Calculator Abbey Co. sold merchandise to Gomez Co. on account, $34,000, terms 2/15. net 45. The cost of the merchandise sold was $13.700. Abbey Co, issued a dedi memo for $4,000 for merchandise returned that originally cost $1,100. Gomez Co, paid the invoice within the discount period. What is the amount of groot profit earned by Abbey Co. on the above transactions? Oa. $29,400 Ob. $16,800 Oc. $4,000 Od. $33,320
Pierce Company sold merchandise to Stanton Company on account FOB shipping point, 1/10, net 30, for...
Pierce Company sold merchandise to Stanton Company on account FOB shipping point, 1/10, net 30, for $9,100. Pierce prepaid the $261 shipping charge. Which of the following entries does Pierce make for this sale? Oa. Accounts Receivable-Stanton, debit $9,361; Sales, credit $9,361 Ob Accounts Receivable-Stanton, debit $9,100; Sales, credit $9,100 Oc. Accounts Receivable-Stanton, debit $9,100; Sales, credit $9,100, and Delivery Expense, debit $261; Cash, credit $261 Od. Accounts Receivable --Stanton, debit $9,009; Sales, credit $9,009, and Accounts Receivable - Stanton,...
The following selected transactions were completed during August between Summit Company and Beartooth Co.: Aug. 1...
The following selected transactions were completed during August between Summit Company and Beartooth Co.: Aug. 1 Summit Company sold merchandise on account to Beartooth Co., $48,000, terms FOB destination, 2/15, n/eom. The cost of the merchandise sold was $28,800. 2 Summit Company paid freight of $1,150 for delivery of merchandise sold to Beartooth Co. on August 1. 5 Summit Company sold merchandise on account to Beartooth Co., $66,000, terms FOB shipping point, n/45. The cost of the merchandise sold was...
A sales invoice included the following information: merchandise price, $14,400; terms 1/10, /eom, FOB shipping point with prepaid freight of $700 added to the invoice. Assuming that a credit for merchandise returned of $800 (before discount) is granted prior to payment and the invoice is paid within the discount period, what amount of cash should be received by the seller2 Oa: $792 Ob. $15,748 Oc. $14,956 Od: $14,164
Merchandise subject to terms 3/10, n/30, FOB shipping point, is sold on account to a customer for $22,800. What is the amount of the sales discount allowable? Oa. $1,026 Ob. $342 Oc. $912 Od. $684
Emma Co, sold to Isabella Co. merchandise on account FOB shipping point, 1/10, net 30, for $10,500. Emma Co, prepaid the $820 shipping charge. Using the perpetual inventory method, which of the following entries will Isabella Co. make for the payment for the merchandise if Isabella Co, pays within the discount period? Oa. Accounts Payable --Emma Co., debit $10,500; Cash, credit $10,500 Ob. Accounts Payable-Emma Co., debit $11,215; Cash, credit $11,215 Oc. Accounts Payable-Emma Co., debit $10,500; Freight In, debit...
Test 2 Calculator ? Determine the amount to be paid in full settlement of each Invoice, assuming that credit for returns and allowances was received prior to payment and that all Involces were paid within the discount period Freight Paid by Seller Returns and Allowances Merchandise Freight Terms a. $5,100 $355 5500 FOB Shipping Point, 1/10, net 30 FOB Destination, 2/10, net 45 b. $12,300 $69 $2,700 b. $ Previous Next All work saved. Save and Exit Submit Test for...
Calculator Abbey Co. sold merchandise to Gomez Co. on account, $34,000, terms 2/15. net 45. The cost of the merchandise sold was $13.700. Abbey Co, issued a dedi memo for $4,000 for merchandise returned that originally cost $1,100. Gomez Co, paid the invoice within the discount period. What is the amount of groot profit earned by Abbey Co. on the above transactions? Oa. $29,400 Ob. $16,800 Oc. $4,000 Od. $33,320
Pierce Company sold merchandise to Stanton Company on account FOB shipping point, 1/10, net 30, for $9,100. Pierce prepaid the $261 shipping charge. Which of the following entries does Pierce make for this sale? Oa. Accounts Receivable-Stanton, debit $9,361; Sales, credit $9,361 Ob Accounts Receivable-Stanton, debit $9,100; Sales, credit $9,100 Oc. Accounts Receivable-Stanton, debit $9,100; Sales, credit $9,100, and Delivery Expense, debit $261; Cash, credit $261 Od. Accounts Receivable --Stanton, debit $9,009; Sales, credit $9,009, and Accounts Receivable - Stanton,...
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