Larson Company on July 15 sells merchandise on account to Stuart Co. for $1,000, terms 2/10,...
Larson Company on July 15 sells merchandise on account to Stuart Co. for $1,000, terms 2/10, n/30. On July 20 Stuart Co. returns merchandise worth $400 to Larson Company. On July 26 payment is received from Stuart Co. for the balance due. What is the amount of cash received?
a. $600
b. $588
c. $580
d. $1,000
Homework Answers
Add Answer to:
Larson Company on July 15 sells
merchandise on account to Stuart Co. for $1,000, terms 2/10,...
Which of the following receivables would not be classified as an "other receivable"? a. Advance to...
Which of the following receivables would not be classified as an "other receivable"? a. Advance to an employee b. Refundable income tax c. Notes receivable d. Interest receivable 19. Notes or accounts receivables that result from sales transactions are often called a. sales receivables. b. non-trade receivables. c. trade receivables. d. merchandise receivables. 20. Larson Company on July 15 sells merchandise on account to Stuart Co. for $1,000, terms 4/10, n/30. On July 20 Stuart Co. returns merchandise worth $400...
On January 15, Pharoah Company sells merchandise on account to Pharoah Associates for $5900 with terms...
On January 15, Pharoah Company sells merchandise on account to Pharoah Associates for $5900 with terms 4/10, n/30. On January 20, Pharoah returns merchandise worth $900 to Pharoah. On January 24, payment is received from Pharoah for the balance due. What is the amount of cash received?
21. Cosmos Company on July 15 sells merchandise on account to Cajon Co. for $6,000, terms...
21. Cosmos Company on July 15 sells merchandise on account to Cajon Co. for $6,000, terms 2/10, n/30. On July 20 Cajon Co. returns merchandise worth $1,000 to Cosmos Company. On July 24 payment is received from Cajon Co. for the balance due. What is the amount of cash received? a. $4,800 b. $4,900 c. $5,000 d. $6,000 22.Which of the following would require a compound journal entry? a. To record merchandise returned that was previously purchased on account. b....
On January 15, Vaughn Manufacturing sells merchandise on account to Pina Colada Associates for $5300 with...
On January 15, Vaughn Manufacturing sells merchandise on account to Pina Colada Associates for $5300 with terms 1/10, n/30. On January 20, Pina Colada returns merchandise worth $1200 to Vaughn. On January 24, payment is received from Pina Colada for the balance due. What is the amount of cash received?
Company A sells $600 of merchandise on account to Company B with credit terms of 2/10,n/30....
Company A sells $600 of merchandise on account to Company B with credit terms of 2/10,n/30. If Company B remits a check taking advantage of the discount offered, what is the amount of Company B's check? $588 O $600 $540 $560
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.
July 1 Purchased merchandise from Boden Company for $6,500 under credit terms of 2/15, n/30, FOB...
July 1 Purchased merchandise from Boden Company for $6,500 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $900 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $542. 3 Paid $110 cash for freight charges on the purchase of July 1. 8 Sold merchandise that had cost $1,800 for $2,200 cash. 9 Purchased merchandise from Leight Co. for $3,000 under...
July 1 Purchased merchandise from Boden Company for $6,600 under credit terms of 2/15, n/30, yon...
July 1 Purchased merchandise from Boden Company for $6,600 under credit terms of 2/15, n/30, yon shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $950 under credit terms of 2/10, 1/60, POB shipping point, invoice dated July 2. The merchandise had cost $550. 3 Paid $135 cash for freight charges on the purchase of July 1. @ Bold merchandise that had coat $1,900 for $2,300 cash. Purchased merchandise from Light Co. for $2,900 under credit...
July 1 Purchased merchandise from Boden Company for $6,000 under credit terms of 1/15, n/30, FOB...
July 1 Purchased merchandise from Boden Company for $6,000 under credit terms of 1/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $900 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $500. 3 Paid $125 cash for freight charges on the purchase of July 1. 8 Sold merchandise that had cost $1,300 for $1,700 cash. 9 Purchased merchandise from Leight Co. for $2,200 under...
Need help preparing journal entries. 2 Sold merchandise to Creek Co. for $950 under credit terms...
Need help preparing journal entries. 2 Sold merchandise to Creek Co. for $950 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $550. 3 Paid $140 cash for freight charges on the purchase of July 1. 8 Sold merchandise that had cost $1,900 for $2,300 cash. 9 Purchased merchandise from Leight Co. for $2,400 under credit terms of 2/15, n/60, FOB destination, invoice dated July 9. 11 Returned $400 of merchandise purchased...
21. Cosmos Company on July 15 sells merchandise on account to Cajon Co. for $6,000, terms 2/10, n/30. On July 20 Cajon Co. returns merchandise worth $1,000 to Cosmos Company. On July 24 payment is received from Cajon Co. for the balance due. What is the amount of cash received? a. $4,800 b. $4,900 c. $5,000 d. $6,000 22.Which of the following would require a compound journal entry? a. To record merchandise returned that was previously purchased on account. b....
Company A sells $600 of merchandise on account to Company B with credit terms of 2/10,n/30. If Company B remits a check taking advantage of the discount offered, what is the amount of Company B's check? $588 O $600 $540 $560
July 1 Purchased merchandise from Boden Company for $6,500 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $900 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $542. 3 Paid $110 cash for freight charges on the purchase of July 1. 8 Sold merchandise that had cost $1,800 for $2,200 cash. 9 Purchased merchandise from Leight Co. for $3,000 under...
July 1 Purchased merchandise from Boden Company for $6,600 under credit terms of 2/15, n/30, yon shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $950 under credit terms of 2/10, 1/60, POB shipping point, invoice dated July 2. The merchandise had cost $550. 3 Paid $135 cash for freight charges on the purchase of July 1. @ Bold merchandise that had coat $1,900 for $2,300 cash. Purchased merchandise from Light Co. for $2,900 under credit...
July 1 Purchased merchandise from Boden Company for $6,000 under credit terms of 1/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $900 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $500. 3 Paid $125 cash for freight charges on the purchase of July 1. 8 Sold merchandise that had cost $1,300 for $1,700 cash. 9 Purchased merchandise from Leight Co. for $2,200 under...
Most questions answered within 3 hours.
-
Discuss the pros and cons of collaborative software such
as SameTime. Does it increase productivity? What...
asked 22 seconds ago -
A large cable company reports the following.
80% of its customers subscribe to its cable TV...
asked 2 minutes ago -
Buying your in-laws a gift because it’s expected is
due to the ____________ motive of gift-giving....
asked 3 minutes ago -
Calculate the expected value, the variance, and the standard
deviation of the given random variable X....
asked 46 minutes ago -
A hospital performs 100 surgeries per week. The probability that
complications after surgery occur is 10%....
asked 1 hour ago -
1 point) Given the significance level α=0.01 find the following:
(a) left-tailed z value z= (b)...
asked 44 minutes ago -
Assuming you are the head of the software development unit at
Cyber.Soft, explain and justify why...
asked 10 minutes ago -
Magnesium and nitrogen react in a combination reaction to
produce magnesium nitride. 3 Mg + N2...
asked 18 minutes ago -
Two electrons are initially at rest separated by a distance of
2nm. At time t=0, they...
asked 16 minutes ago -
A martial artist is practicing breaking 5 boards. He is able to
break aboard with probability...
asked 24 minutes ago -
The rate constant of a first-order reaction is 2.95 × 10−4 s−1
at 350.° C. If...
asked 27 minutes ago -
implement a class called PiggyBank that will be used to
represent a collection of coins. Functionality...
asked 18 minutes ago