Homework Answers
Under the net methods of Accounting for purchase , purchase would be recorded at $44100.
Explanation:
Purchase price = $45000
Cash Discount = 2/10 ,n 30 i.e $45000 * 2% = $900
Net purchase price = $45000 - $900 = $44100.
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A company purchases inventory on account for $45,000 with terms 2/10, n/30. Under the net method...
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McCallister's just purcahsed $15,500 worth of inventory . The
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The company purchased merchandise on account for $47,500 on October 12. Terms of the purchase were 1/10, n/30. James u...
The company purchased merchandise on account for $47,500 on
October 12. Terms of the purchase were 1/10, n/30. James uses the
net method to record purchases.
The merchandise was shipped f.o.b. shipping point and freight
charges of $670 were paid in cash.
On October 31, James paid for the merchandise purchased on
October 12.
Record the sale of merchandise on account.
Record the cost of goods sold.
Record any necessary adjusting entry when the inventory on hand
at the end...
The company purchased merchandise on account for $47,500 on October 12. Terms of the purchase were 1/10, n/30. James u...
The company purchased merchandise on account for $47,500 on
October 12. Terms of the purchase were 1/10, n/30. James uses the
net method to record purchases.
The merchandise was shipped f.o.b. shipping point and freight
charges of $670 were paid in cash.
On October 31, James paid for the merchandise purchased on
October 12.
Record the sale of merchandise on account.
Record the cost of goods sold.
Record any necessary adjusting entry when the inventory on hand
at the end...
Truex, Inc purchases inventory from Yax,Co on account. The cost of the inventory is $5,000. Terms...
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?
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A company has the following transactions during March: March 3 Purchases inventory on account for $3,100, terms 3/10, n/30. March 5 Pays freight costs of $290 on inventory purchased on March 3. March 6 Returns inventory with a cost of $500. March 12 Pays the full amount due on March 3 purchase. March 29 Sells all inventory purchased on March 3 (less those returned on March 6) for $5,800 on account. tormiunt due on March 3 purchase the returned Record...
The company purchased merchandise on account for $47,500 on
October 12. Terms of the purchase were 1/10, n/30. James uses the
net method to record purchases.
The merchandise was shipped f.o.b. shipping point and freight
charges of $670 were paid in cash.
On October 31, James paid for the merchandise purchased on
October 12.
Record the sale of merchandise on account.
Record the cost of goods sold.
Record any necessary adjusting entry when the inventory on hand
at the end...
The company purchased merchandise on account for $47,500 on
October 12. Terms of the purchase were 1/10, n/30. James uses the
net method to record purchases.
The merchandise was shipped f.o.b. shipping point and freight
charges of $670 were paid in cash.
On October 31, James paid for the merchandise purchased on
October 12.
Record the sale of merchandise on account.
Record the cost of goods sold.
Record any necessary adjusting entry when the inventory on hand
at the end...
Truex, Inc purchases inventory from Yax,Co on account. The cost of the inventory is $5,000. Terms are 2/10/net 30. What account should be debited in the journal entry in the accounting records of Truex, Inc.? a b ос Od Inventory Accounts receivable Accounts payable Cash Question 10 (3 points) Truex, Inc purchases inventory from Yax Co. on account. The cost of the inventory is $5,000. Terms are 2/10/net 30. What account should be credited in the journal entry in the...
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