12. On June 1, P16,000 of goods are sold with credit terms of 1/10, n/30. On June 3 the customer returned P2,000 of the goods. How much should the seler expect to recelve if the buyer pays on June 8? P13,840 P13,860 C. P14,000 d. P15,840 a. b.
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A: Implicit cost is also known as opportunity cost that has incurred but not recorded or reported as a…
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A: Please see the next step for the solution
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A:
Q: On November 3, FDN Trading sold merchandise for P170,000 less 10-5 on terms 3/10 2/20 n/30. Two days…
A: The question is based on the concept of Financial Management.
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- Sold goods for $650, credit terms net 30 days. Which journal would the company use to record this transaction? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journalA seller sells $800 worth of goods on credit to a customer, with a cost to the seller of $300. Shipping charges are $100. The terms of the sale are 2/10, n/30, FOB Destination. What, if any, journal entry or entries will the seller record for these transactions?On January 1, Incredible Infants sold goods to Babies Inc. for $1,540, terms 30 days, and received payment on January 18. Which journal would the company use to record this transaction on the 18th? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journal
- Your company paid rent of $1,000 for the month with check number 1245. Which journal would the company use to record this? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journalGINKGO-NUTS Enterprises' purchases per purchase invoice is ₱150,000. The purchase discount is 2/10, n/30. Freight is ₱500, FOB Shipping point prepaid. At what amount is the accounts payable debited upon payment? SHOW YOUR SOLUTION IN GOOD ACCOUNTING FORMPLEASE CHECK MY ENTRIES IF IT CORRECT Date Explanation F Debit Credit 2015 01-Dec Cash 230,000 Merchandise inventory 75,000 HC Capital 305,000 03-Dec Accounts payable 2,500 Bank 2,500 04-Dec Cash 30,240 Sales revenue 27,000 VAT payable 3,240 05-Dec Accounts receivable 20,720 Sales revenue 18,500 VAT payable 2,220 06-Dec Sales returns and allowances 1,850 VAT Payable 222 Accounts receivable 2,072 07-Dec Merchandise inventory 25,000 Input VAT 3,000 Accounts payable 28,000 09-Dec Merchandise inventory 1,300 Input VAT 156 Cash 1,456 10-Dec Cash 20,350 Sales discount 370 Accounts receivable 20,720 12-Dec Accounts payable 28,000…
- https://www.bartleby.com/questions-and-answers/solve-the-following-ledger-please-1.-we-buy-goods-on-credit-for-dollar30000.00-we-pay-50percent-in-c/e657ebb4-e960-4a2c-81d5-b4ef23d6ba48 Solve the following ledger please 1. We buy goods on credit for $30,000.00, we pay 50% in cash, and the rest on credit. 2. We buy goods on credit for $150,000.00, we pay 50% in cash, 30% on credit and for the rest we sign a document. 3. On March 1, 2005, we bought merchandise for $65,000.00 and signed a document, for which they will charge us 1% per month. we paid on May 31, 2005. 4. On February 1, 2005, we took a loan from BBVA for the amount of $230,000.00, signing a promissory note at 17% per year for 60 days. the document was paid on March 31, its expiration date. (document with interest and document with discounted interest). 5. On June 1, 2004, we requested a loan from Mr. Adolfo López in the amount of $320,000.00, and we signed a promissory note at 15% per annum for 6 months. (both methods). 6. On…JYP began operation in 2016. For the year ended, the company has the ff details: Merchandise Purchases USD 6, 000, 000 Merchandise Inventory, Dec. 31 USD 2, 400, 000 Collection from customers USD 4, 365, 000 Note that all merch was marked to sell at 35% on selling price. All sales are made on a credit basis and all receivables are collectibl Determine and compute the balance of accounts receivable on year end.PLEASE SHOW SOLUTIONS IN GOOD ACCOUNTING FORM. 7.The home office ships merchandise to the branch at 25 percent above cost. At what amount should the Home Office account be credited if merchandise costing P120,000 will be shipped?
- 1.On June 1, P8,000 of goods are sold with credit terms of 1/10, n/30. On June 3 the customer returned P1,000 of the goods. How much should the seller expect to receive if the buyer pays on June 8?30) Gigabyte traders has the following transactions for the month of August 2018: Aug 7- Goods returned to Max mart of RO 1,950 Aug 14- Returned goods to Almadina traders of RO 2,650 Aug 22- Returned goods to us by Finmart of RO 850 How much amount would you transfer to Purchases return daybook for the month of September 2018? a. RO 2,650 b. RO 850 c. RO 4,600 d. RO 1,950On November 1, 2025, Alpha Omega, Inc. sold merchandise for $19,000, FOB destination, with payment terms, n/30. The cost of goods sold was $5,700. On November 3, the customer returns on 3 this sale amounted $7,600 of goods purchased. The company received the balance on November 9, 2025. Calculate the cost of goods sold from these transactions.