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- 2.a) Twinky Trading sells an item for RM 3500 less 20% and 15%. Find the net price. 2.b) A retailer received an invoice of of RM 15000 dated 16 February 2019 was offered 6% trade discount and cash discount terms of 5/10, n/30. Find the net payment if the invoice was paid on 24 February 2019.6. AN invoice dated 19th November 2016 was received by Syahirah for the purchase of an item. The price after trade discounts of 12%, 9% and 6% including the transportation cost of RM500 is RM7,895. The cash discount term offered was 5/9, 2/15, n/30. No use excel. Find a) The list price of the item. (RM9823.95) b) The total amount paid if the payment was made on 4th December 2016. (RM7747.10)H3. A retailer purchases some merchandise with an invoice price of $19,100 and terms of sale of 5/15, n/45. What is the net amount due (in $) on the order if a partial payment of $10,800 is made on the 15th day? (Round your answer to the nearest cent.) Please show proper step by step calculation with details
- 10. An owner of a stationary shop received an invoice for the purchase of 100 pens at RM2 each and 150 rulers at RM1 each. The invoice was dated 8 July 2017. He was offered trade discounts of 12% and 9%, and cash discount terms of 15/10, 5/20 and n/30. The dealer paid the invoice on 20 July 2017. No use excel. Find a) The single discount equivalent to the given trade discounts. (19.92%) b) The amount of payment made on 20 July 2017. (RM266.27)2. RNB Co. bought some items and was given trade discounts of 15% and 10%. The company received an invoice dated 18th April 2015 with cash discount terms of 5/10, 3/15, 2/20 and n/30. On 2nd May 2015 the company padi RM5,513.80. No use excel. a) Find the single trade discount rate equivalent to the given trade discount rates. (23.5%) b) Find the list price of items. (RM7430.50)2. RNB Co. bought some items and was given trade discounts of 15% and 10%. The company received an invoice dated 18th April 2015 with cash discount terms of 5/10, 3/15, 2/20 and n/30. On 2nd May 2015 the company padi RM5,513.80. a) Find the single trade discount rate equivalent to the given trade discount rates. (23.5%) b) Find the list price of items. (RM7430.50)
- 4. An invoice dated 26 October 2014 amounted to RM8,260 was offered trade discounts of 7%, 2% and cash discount terms of 3/15, 2/30, n/60. No use excel. Find a) The net price after trade discount. (RM7528.16) b) The amount paid on 17 November 2014. (RM7377.60)37) Royal mart purchased goods on 12th March 2019 for RO 54,000 from Google mart. Calculate the Net amount to be paid, if the credit term followed as n/60. a. RO 52,920 b. RO 63,000 c. RO 54,000 d. RO 9,000(Determine Transaction Price) Jupiter Company sells goods to Danone Inc. by accepting a note receivable on January 2, 2017. The goods have a sales price of $610,000 (cost of $500,000). The terms are net 30. If Danone pays within 5 days, however, it receives a cash discount of $10,000. Past history indicates that the cash discount will be taken. On January 28, 2017, Danone makes payment to Jupiter for the full sales price.Instructions(a) Prepare the journal entry(ies) to record the sale and related cost of goods sold for Jupiter Company on January 2, 2017, and the payment on January 28, 2017. Assume that Jupiter Company records the January 2, 2017, transaction using the net method.(b) Prepare the journal entry(ies) to record the sale and related cost of goods sold for Jupiter Company on January 2, 2017, and the payment on January 28, 2017. Assume that Jupiter Company records the January 2, 2017, transaction using the gross method.
- A. On June 1, 2020, Eleno Buray Jr. Forest Products sold merchandise with a Php120,000 list price. Trade Discounts Credit Terms Date Paid a. 30% 2/10, n/30 June 8 b. 40% 1/10, n/30 June 15 c. - 2/10, n/30 June 11 Required: For each of the sales terms, determine the following: a. The amount ofrecorded saleb. The amount ofcash received upon payment8. An invoice dated 21 February 2016 for RM2,500 (including RM200 handling charges) was offered trade discounts of 15%, 7% and cash discount terms of 5/10, 2/20 and n/60. No use excel. Find a) The net price after trade discount. (RM1818.15) b) The amount paid on 3 March 2016. (RM1981.79)Problem 12 Rosalie Co. uses the gross method to record sales made on credit. On June 10, 2020, it made sales of P100,000 with terms 2/10, n/30 to Finley Farms, Inc. On June 19, 2020, Rosalie received payment for 1/2 the amount due from Finley Farms. Rosalie’s fiscal year end is on June 30, 2020. What amount will be reported in the statement of financial position for the accounts receivable due from Finley farms, Inc.? _________ Problem 13 On the December 31, 2020 balance sheet of Mann Co., the current receivables consisted of the following: Trade accounts receivable 93,000 Allowance for uncollectible accounts (2,000) Claim against shipper for goods lost in transit (November 2020) 3,000 Selling price of unsold goods sent by Mann on consignment at 130% of cost (not included in Mann’s ending inventory) 26,000 Security deposit on lease of warehouse used for storing some inventories 30,000 Total 150,000 On December 31, 2020, the correct total of Mann’s current net receivables was…