Invoice date |
Terms |
Date Goods Received |
Final Discount Date |
Net Payment Date |
May 14 |
3/20 ROG |
June 2 |
Invoice Amount |
Invoice Date |
Terms |
Date Invoice Paid |
Amount of Discount |
Amount Due |
$2,500 |
Jan. 25 |
4/15 EOM |
Feb. 13 |
Find the list price of a sofa that has a net cost of $285.00 with a...
QUESTION 9 Using the dating method, calculate the discount date and the net date. Unless otherwise specified, the net date is 20 days after the discount date: Discount Date N et Dats Date of Invoice June 25 T T T Arial Terms of Sale 3/15, EOM 3 (1 ) T. E.
Majestic Manufacturing sold Jordans Furniture a living room set for an $8,520 list price with 25% trade discount. The $110 freight (FOB shipping point) was not part of the list price. Terms were 2/10, n/30 ROG. The invoice date was June 01. Jordans received the goods on July 20 and paid the invoice on July 22. What was the final price (include cost of freight) of the living room set? (Round your answer to the nearest cent.)
11 Complete the following by calculating the cash discount and net amount paid: Gross amount of invoice (freight charge already included) Freight charge Date of invoice Terms of invoice Date of payment Cash discount Net amount paid 700 None 1814 8/14 4/10, 3/15 n/30 4/10, 315, 11308/26 8/26
How do you compute net income for a merchandiser O Cost of goods sold other expenses. O Net sales - cost of goods sold other expenses. O Revenues - expenses. O Net sales - cost of goods sold. Explain what the credit terms of 2/10,n/30 mean. (Check all that apply.) The full payment is due within 10 days. The buyer can deduct 2% of the invoice amount if payment is made within 10 days of the invoice date. The buyer...
QS 4-4 Computing net invoice amounts LO P1 Compute the amount to be paid for each of the four separate invoices assuming that all invoices are paid within the discount period. Merchandise (gross) Terms Payment a. $8,400 2/10, n/60 b. $25,100 1/15, EOM c. $81,800 1/10, n/30 d. $18,500 3/15, n/45
find the net payment where indicated, and the credit toward account, and the amount still due. round to the nearest cent where necessary. invoice is $765, date of invoice February 24, date of payment March 10, credit terms 2/10, n/30 PROX., net payment $392
1. Smith Co. has received an invoice dated June 5 for 10 surfboards with a list price of $2,500 each, and for freight of $250. The terms were: Trade items: List less 15% and 5%. Payment terms 3/10, 2/20, n/30 (June has 30 days) (a) What is the last day the invoice can be paid and how much should be paid? [2 marks]
Save Question 8 (3 points) Find the net amount due on the following invoice. Pa discount date. Invoice amount without shipping: $3.961.50 Terms: 2/10, n/30 Trade discount rate: 10% Shipping Charges: $66.10 Question 8 options:
please complete part C only! Thank you in advance! s Question Help Credit terms Purchases made on credited in by the end of the big period. Many forms extend a discount for payment made in the first part of the ring period. The original invoice contains type of shorthand nation that the creditors that apply. (Note Assume a 365-day year) a Write the short and expression of credit barns for each of the following b. For each of the set...
I only need help figuring out the Net Price in part 3 of the question. Please explain how you figured out the answer. Thank you. Sheridan Industries purchased $11,000 of merchandise on February 1, 2020, subject to a trade discount of 10% and with credit terms of 3/15, n/60. It returned $2,300 (gross price before trade or cash discount) on February 4. The invoice was paid on February 13. Your answer is correct. Assuming that Sheridan uses the perpetual method...