A credit sale of $2800 is made on July 15, terms 4/10, net/30, on which a return of $200 is granted on July 18. What amount is received as payment in full on July 24?

Q: An invoice of RO 50,000 with the terms 7/18, n/30, ROG is dated on May 10th. The goods are received…

A: Given: 7/18 means if you pay the bill within 18 days you will get a discount for 7% N/30 means if…

Q: Scarlet Company received an invoice for $67,000.00 that had payment terms of 2/5 n/30. If it made a…

A: Many companies provide their customers with trade credit which is the ability to receive the goods…

Q: An invoice is dated may 22 with terms 4/18 EOM, Assuming the net date is 20 days after discount…

A: EOM meand end of the month.

Q: A credit sale of $3,600 is made on July 15, terms 2/10, n/30, on which a return of $200 is granted…

A: 2/10 net 30 mean 2percent discount will be there if payment is made with in 10 days and no discount…

Q: A company estimate the purchases for the following months: - Month October NovemberDecember January…

A: Purchase of goods can be made by two ways. One is cash purchases in which cash is paid immediately…

Q: Christine's bill of P5 000 was due on September 10. A purchase of P 3 000 was made on September 15…

A: Firstly, average daily balance is calculated as below: result:

Q: On August 10, a credit card account had a balance of $365. A purchase of $62 was made on August 15,…

A: In credit cards, we can say that finance charges include interest and transaction fees charged on…

Q: A credit sale of $750 is made on June 13, terms 2/10, net/30. A return of $50 is granted on June 16.…

A: Net Sales  = Sales - sales return = $750 - $50 = $700

Q: A credit sale of Rs.105,000 is made on March 10, terms 2/10, n/30. A return of Rs.5,000 is granted…

A: Credit terms 2/10, n/30 means customer will get 2% discount if payment is made within 10 days…

Q: H) A product is sold for RO 15,000 dated June 10, and terms of payment 4/10, n/30 has been received.…

A: We’ll answer the question no h), since the exact one wasn’t specified. Please submit a new question…

Q: A credit card account had a balance of P 5 000 on October 12. A purchase of P1500 was made on…

A: Solution Given Balance on October 12 5000 Purchase made on October 15 1500 Payment…

Q: A charge account had a balance of $979 on May 5. A purchase of $222 was made on May 17, and a…

A: From May 5 to May 17, the balance of account is $979 for 12 days.From May 17 to May 20 the balance…

Q: A credit sale of $3.,500 is made on July 15, terms 2/10, n/30, on which a return of $200 is granted…

A: Formula: Net sales = Sales - sales returns and allowances

Q: On September 1, The business sold merchandise for 33.000 TL (including 10% VAT) FOB Destination. The…

A: Notes payable are the asset of the firm where a borrower gives a written promise to lender to pay…

Q: 20Y7 Dec. 7. Received from Unitarian Clothing and Bags Co., on account, a $60,000, 60-day, 7% note…

A: Interest = Amount of notes receivables * Rate of interest * number of days / 360 Number of days from…

Q: Goods totaling P100,000 were purchased February 2 with terms of 2/10, n/30. Returns of P20,000 were…

A: Formula: Net purchases = Purchases - Purchases returns

Q: On June 22, The business sold merchandise for 11.000 TL (including 10% VAT) FOB Destination. The…

A: Notes: Notes can be defined as a promise made by the borrower to the lender for making the payment…

Q: An account had a balance of P7,000 and paid P3,500 on the November 7 due date. A purchase of P2,000…

A: Account balance P7,000 Paid an amount of  P3,500 on the November 7 due date. A purchase of P2,000…

Q: Within 10 days following a sale, a company receives payment of a $20,000 account receivable with…

A: Sales discount = Accounts receivable x rate of discount

Q: On April 25, The business sold merchandise for 55.000 TL (including 10% VAT) FOB Destination. The…

A: When goods are sold out and vat is charged , then vat is the tax payable to the government and not…

Q: A bill for P1024 was due on July 1. Purchases of P315 were made on July 7, and P410 was charged on…

A: A finance charge is a cost of borrowing money, including interest and other fees. It can be a…

Q: Scarlet Company received an invoice for $70,000.00 that had payment terms of 1/5 n/30. If it made a…

A: Lets understand the basics. Seller for attracting early payment, gives the discount term to buyer of…

Q: onth following the sale. The Ju $4,400 in accounts payable; a ans are obtained at the end o…

A: Built Tight…

Q: A company grants a payment extension to its customer by converting that $15,000 accounts payable to…

A: Interest on 45 days note for 30 days  115000*12%*30/360=$150

Q: A credit sale of $4,000 is made on April 25, terms 2/10, n/30, on which a return of $250 is granted…

A: Formula: Net sales = Sales - sales returns and allowances

Q: A credit sale of $1800 is made on July 15, terms 4/10, net/30, on which a return of $100 is granted…

A: Note: 4/10, n/30: Here, 4 represent the discount rate if payment is made within ten days. And if…

Q: Payment dates On March 25, the following invoices were issued for a $500 purchase on credit.…

A: The invoice is created for the amount due to the supplier for the credit purchase made during the…

Q: SNK Corp. produces advertising videos. During the current year ending December 31, SNK received the…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: A credit sale of $4,000 is made on April 25, terms 2/10, n/30, on which a return of $250 is granted…

A: Formula used: Net sales = Sales - Sales returns. Deduction of sales returns from sales value derives…

Q: 1. A bill for P1024 was due on July 1. Purchases of P315 were made on July 7, and P410 was charged…

A: Finance charge: It is the amount that is charged over & above the principal amount.

Q: A credit sale of $3,600 is made on July 15, terms 2/10, n/30, on which a retur of $200 is granted on…

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…

Q: on november 1, 2018, Downtown  Jewelers accepted a 3-month, 15% note for $6,000 in sttlement of an…

A: Accrued interest: Accrued interest is the outstanding interest expense in the accounting period, as…

Q: An invoice, with payment terms of 5/10, n/30, was issued on April 28 for $240. If the payment was…

A: An invoice is a document issued at the time of credit purchase to specify the date and method of…

Q: Make the journal entries. Make the adjusting entries for each expense accrued at the end of the…

A: Financial transactions are recorded in the form of a journal entries.

Q: A credit card had a previous balance of P 9 500 on June 10. A purchase of P 5 000 was made on June…

A: Average daily balance = Total of (Number of days * Unpaid balance) / Total number of days

Q: A credit sale of $3,600 is made on July 15, terms 2/10, n/30, on which a return of $200 is granted…

A: 2/10 net 30 means 2% discount will be there if payment is made with in 10 days and no discount after…

Q: Zaldy's bill of P5 000 was due on September 10. A purchase of P 3 000 was made on September 15 and P…

A: Date  unpaid balance   Sep. 10 $5000 (previous balance) Sep. 15 $5000+$3000=$8000 (purchase of…

Q: On November 1, Senorita Blankets sold goods for P12,000 and accepted a six-month non-interest…

A: Present value of Notes = non-interest-bearing note x Present value factor at (5%, 1 period) = P12000…

Q: A credit sale of $4,000 is made on April 25, terms 2/10, n/30, on which a return of $250 is granted…

A: Here terms 2/10, n/30 means 2% discount will be given if payment is made within 10 days.  And final…

Q: c) An invoice of RO 50,000 with the terms 7/18, n/30, ROG is dated on May 10th. The goods are…

A: Bill payable: It can be defined as a document that presents the amount owed by an individual or an…

Q: On September 10, a credit card account had a balance of $450. A purchase of $47 was made of…

A: In average daily balance, the total monthly adjusted amount is divided by total days to get the…

Q: On October 1, Black Company receives a 4% interest bearing note from Reese Company to settle a…

A: Accounts receivable = $19400 Periods remaining in the current year = 3 months Interest rate = 4% per…