Ball Company sells merchandise on account for $1,500 to Edds Company with credit terms of 2/10, n/30. Edds Company returns $300 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check?   Question 9 options:   A)  $1,470   B)  $1,476   C)  $1,176   D)  $1,200

Q: Kaden Co. sells merchandise on credit to Jase Co. for $9,600. The invoice is dated July 15 with…

A: Discount:  It refers to a percentage that is deducted from the normal selling price of a product.

Q: Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $55,000, terms…

A: Journal:   It is the systematic record of a financial transactions of a business recorded in a…

Q: A merchandiser receives payment in full after the expiration of the discount period on a P3,000…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: On July 9, Bonita Company sells goods on credit to Sandhill Company for $4500, terms 2/10, n/60.…

A: Sales Discounts = Sales value x discount rate =  $4500 x 2% = $90

Q: Use the following to answer the four questions below On January 17, 2022, Seller Company sold to…

A: Payment terms with  4/10 , n/30 it means a discount of 4% will be given if payment is made by buyer…

Q: Evergreen Company sells lawn and garden products to wholesalers. The company's fiscal year-end is…

A: A Journal entry is a primary entry that records the financial transaction initially. The…

Q: 18/Sunlife mart sold goods on 6th August, 2018 of RO 88,000 on credit to a customer under the…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: Company X sells $400 of merchandise on account to Company Y with credit terms of 2/10, n/30. If…

A: Merchandise Inventory: Merchandise is the stock of goods bought by a wholesaler, or a retailer, or a…

Q: Issued Check Number 3410 to S&P Management Company in payment of the May rent for $3,850. Charge…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Valley Company purchases merchandise on account for $6,236 from Corn Company with credit terms of…

A: The cash discount is allowed to buyer, if payment is made within discount period.  The FOB shipping…

Q: can you please check to see if my work is correct...

A: Accounts receivable is the proceeds which the company will receive from its customers to whom goods…

Q: Mindful Corporation sells merchandise on account for $5,000 to Absent Corporation with credit terms…

A: Formula: Cash discount amount = Net sales x Discount rate

Q: Thinkwell Enterprises Co pays the amount of $ 200,000 of merchandise owed to Al Bhaja Trading…

A: Discount on payment = amount payable x discount rate = 200000 x 3% = $6000

Q: Kaden Co. sells merchandise on credit to Jase Co. for $9,600. The invoice is dated July 15 with…

A: Given information is: Kaden Co. sells merchandise on credit to Jase Co. for $9,600. The invoice is…

Q: May 4,   Bargain Wholesalers sells inventory to Pet World Supplies for $8,250.00 with terms 1/10,…

A: Cash to be received = Final amount due - Discount amount Cash to be received = (8,250 + 10,985) -…

Q: What is the entry on Kiner's books to record the payment of the invoice within the discount period?

A: In the normal course of business, Business Entities allow credit to their customers on some terms…

Q: Bramble Company sells merchandise on account for $4800 to Cullumber Company with credit terms of…

A: Sales Revenue = $4,800 Credit Terms = 1/10, n/30 Sales Returns = $1,100 Therefore, Amount Due =…

Q: Pharoah Company sells merchandise on account for $3500 to Riverbed Company with credit terms of…

A: Calculate the amount of check.

Q: Barans Company purchased merchandise on account from a supplier for $9,200, terms 1/10, n/30. Barans…

A: 1/10 net 30 means 1% discount will be there if payment is made with in 10 days and no discount after…

Q: Whispering Winds Corp. sells merchandise on account for $2000 to Martinez Company with credit terms…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Omani Marble Company LLC sells (on credit) OMR 15000 Marble to a retailer with credit terms of 3/10,…

A: Credit terms includes terms and conditions related to credit transactions between the seller and…

Q: Alpha Corporation sells $2799 of merchandise on account to Blackwell Company with credit terms of 3…

A: Payments terms of 3/10, n/30 means discount of 3% on goods is valid for 10 days from the date of…

Q: Merchandise received on July 20 is charged to the store on an invoice dated July 8 for $1,254 with…

A: Merchandising is the process to bringing goods for the selling purpose into market.

Q: Pharoah Company sells merchandise on account for $3600 to Morton Company with credit terms of 2/14,…

A: Whenever goods in the business are sold on credit, then Accounts receivable should be debited and…

Q: On November 2, 2022, Crane Company has cash sales of $6040 from merchandise having a cost of $3540.…

A: Cash sales refers to those sales that are made in cash , or by credit cards or by a cheque. When a…

Q: On July 1, 2020, Suzan Corp. sells electronic merchandise on account to Sam Inc. for $45,000, terms…

A: The account receivables are referred to as the amount that a business has to collect from its…

Q: On December 1, Macy Company sold merchandise with a selling price of $8,000 on account to Mrs…

A: Account receivable means the debtor from whom we have to collect the payment for sale of the product…

Q: Apple Co sells merchandise on credit to Zea Co in the amount of 8,000. The invoice is dated on…

A: The term 1/15, net 45 means 1% discount till 15 days of date of invoice.

Q: Jacob Co. sells merchandise on credit to Isaiah Co. for $10,400. The invoice is dated on May 1 with…

A: Discount:  It refers to a percentage that is deducted from the normal selling price of a product.

Q: A retailer purchases merchandise with a catalog list price of $28,600. The retailer receives a 22%…

A: Discount:  It refers to a percentage that is deducted from the normal selling price of a product.

Q: After the amount due on a sale of $28,000, terms 2/10, n/eom, is received from a customer within the…

A: (1) Calculate the amount of refund owed to the customer.

Q: 1. Dollar Store purchases merchandise for $2,200 on terms of 2/5, n/30, FOB shipping point, invoice…

A: Journal entries are the first step of the accounting process and record certain transactions for…

Q: On June 1 of the current year, Pitt Company sold merchandise with a list price of P 5,000,000 to…

A: Trade discount means discount offered on list price of the products. Under FOB shipping point…

Q: n January 4, JC sells merchandise costing $2,000 for $8,000 to RM with terms of 3/12, n30.   On…

A: Solution Concept Credit term 3/12, n30 means that if the amount is paid within 12 days of the…

Q: Blossom Company sells merchandise on account for $3300 to Morton Company with credit terms of 2/7,…

A: Journal entries are the basic method for recording financial transactions in the books of accounts.…

Q: Python Company sells merchandise on account for $5,000 to Monte Company with credit terms of 2/10,…

A: Net Amount payable = Purchases - Purchase return = $5,000 - $1,500 = $3,500

Q: After the amount due on a sale of $28,000, terms 2/10, n/eom, is received from a customer within the…

A: a.

Q: Cormack purchased merchandise with a list price of P60,000 from the Murray. Murray offers its…

A: Discount amount = Lis price x discount rate = P60,000 x 2% = P1,200

Q: Oriole Company sells merchandise on account for $7800 to Sunland Company with credit terms of 2/13,…

A: The amount paid to supplier would be the amount of purchases less returns and discount. The term…

Q: On May 1, 2014, Kristoffer Company sold merchandise to Customer Gwen for P40,000, credit terms 2/10,…

A: A. the journal entry to record the sale of merchandise 1 may 2020        account receivables…

Q: 9 Borrowed $5,500 by giving a note to the bank.     13 The owner, Dale Trent, invested an additional…

A: A cash receipts journal is a type of accounting journal that is used in an accounting system to…

Q: Buehler Company on June 15 sells merchandise on account to Chaz Co. for $1,000, terms 2/10, n/30. On…

A: Trade credit: Trade credit refers to the business to business agreement through which a customer can…

Q: Evergreen Company sells lawn and garden products to wholesalers. The company's fiscal year-end is…

A: It is the first step of recording financial transactions in the books of accounts that have two…

Q: A retailer purchases merchandise with a catalog list price of P15,000. The retailer receives a 15%…

A: Net purchases = Purchases worth - Purchase discount = P15,000 - P15,000 x 15% = P12,750

Q: If Abby INC sells items to a customer who uses a credit card for $1100 and there is a credit card…

A: Credit card expense=Amount used×Fee percentage=$1,100×1.5%=$16.5 or $17 The credit card expense is…

Q: Bramble Corporation sells merchandise on account for $4800 to Kingbird Corporation with credit terms…

A: Discount terms 2/10 net 30 indicates that  A discount of 2% on net sales  That is total sales less…

Q: Evergreen Company sells lawn and garden products to wholesalers. The company's fiscal year-end is…

A: Since, you have asked for specific journal entry, so we will solve the same for you.

Q: ry 2018, Megamart company grants an allowance to a Max traders, a customer of RO 2,600 for the goods…

A: In the given situation, Mega-mart company is granting an allowance to max traders for RO 2,600 as…