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- A customer discovers 50% of the total merchandise delivered from the retailer is damaged. The original purchase for all merchandise was $5,950. The customer decides to return 40% of the damaged merchandise for a full refund and keep the remaining 60%. What is the value of the merchandise returned?A 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?Willetta Company purchases inventory for $19,000 with terms 2/10, n/30. It then returns $2,900 of the inventory purchased to the supplier and also receives an allowance for defective inventory of $190. The company pays the amount due within the discount period. What is the amount of the discount that will be taken? (Round your answer to the nearest dollar amount.) Multiple Choice $318 $376 $290 $322
- A craft shop buys stuffed animals with a list price of $6,000. If the wholesaler offers trade discounts of 35/35/35, find the net price factor. a. 0.04288 b. 0.21600 c. 0.27463 d. 0.34300Azlita bought a refrigerator with marked down 14% during a clearance sale. The selling price is RM500. At this selling price, Azlita made a 25% markup on the selling price. Find thea) Find retail price of the refrigerator.b) Find cost of the refrigerator. c) Calculate markup per cent of the refrigerator at the retail price. Not use excelA consumer buys an article for a listed price of 380 OMR from a shopkeeper and pays 10% sales tax. The shopkeeper pays a VAT of OMR 3. Find the price inclusive of tax at which the shopkeeper bought from the wholesaler. a. 35O OMR b. 418 OMR c. 315 OMR d. 385 OMR
- For business math: Levin Furniture buys a living room set with a $4,800 list price and a 60% trade discount. Freight (FOB shipping point) of $55 is not part of the list price. What is the delivered price (including freight) of the living room set, assuming a cash discount of 5/10, n/30, ROG? The invoice had an April 8 date. Levin received the goods on April 19 and paid the invoice on April 25. Can you show me how to get the delivery rate, and go into detail about the n/30 and ROG as well?prescribed rate of VAT on the goods is 10% and the retailer sells it to the consumer at the printed price.Save A A manufacturer printed the price of his goods as BD120 per article. He allowed a discount ot 30% to the wholesaler who in his turn allowed a discount of 20% on the printed price to the retailer. It the Require Find the value added tax paid by the wholesaler and the retailer.On June 3, 2020, Hunt Company sold to Ann Mount merchandise having a sales price of $8,000 (cost $6,000) with terms of n/60, f.o.b. shipping point. Hunt estimates that merchandise with a sales value of $800 will be returned. An invoice totaling $120 was received by Mount on June 8 from Olympic Transport Service for the freight cost. Upon receipt of the goods, on June 8, Mount returned to Hunt $300 of merchandise containing flaws. Hunt estimates the returned items are expected to be resold at a profit. The freight on the returned merchandise was $24, paid by Hunt on June 8. On July 16, the company received a check for the balance due from Mount. Instructions Prepare journal entries for Hunt Company to record all the events in June and July.
- On June 3, 2020, Hunt Company sold to Ann Mount merchandise having a sales price of $8,000 (cost $6,000) with terms of n/60, f.o.b. shipping point. Hunt estimates that merchandise with a sales value of $800 will be returned. An invoice totaling $120 was received by Mount on June 8 from Olympic Transport Service for the freight cost. Upon receipt of the goods, on June 8, Mount returned to Hunt $300 of merchandise containing flaws. Hunt estimates the returned items are expected to be resold at a profit. The freight on the returned merchandise was $24, paid by Hunt on June 8. On July 16, the company received a check for the balance due from Mount.O'Brien Company is a manufacturer of purses. They sell products to Maureen, Inc., a women's clothing store. Both companies use perpetual inventory systems. On June 2, 2020, O'Brien Company sold 400 purses on account to Maureen, Inc. O'Brien's cost was $40,000 ($100 each) and the selling price was $60,000 ($150 each) with terms of 1/15, n/30. Maureen paid O'Brien on June 8, 2020 for the June 2 transaction that had terms of 1/15, n/30. Question 5 of 8 What follows is a fill in the blank question with 21 blanks. Prepare the June 8 journal entry(ies) for O'Brien Company. Date Account Names DR CR 6/8 Blank 1. Fill in the blank, read surrounding text. Blank 2. Fill in the blank, read surrounding text. Blank 3. Fill in the blank, read surrounding text. Blank 4. Fill in the blank, read surrounding text. Blank 5. Fill in the blank, read surrounding text. Blank 6. Fill in the blank, read surrounding text. Blank 7. Fill in the blank, read surrounding text.…In the event of 12.12 Grand Sale, Agigas warehouse gave trade discounts 40%,10% and 2% to their shop member i. Find the single discount equivalent to the given trade discounts ii. If the list price of an item is RM500, find the net price of the item