Jason purchased 10 boxes of face shields from Victoria Trading. The sales invoice shows an amount equivalent to 9 boxes of face shields. What discount does Victoria trading offered to Jason? purchase discount trade discount sales discount credit discount
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Jason purchased 10 boxes of face shields from Victoria Trading. The sales invoice shows an amount equivalent to 9 boxes of face shields. What discount does Victoria trading offered to Jason?
purchase discount
trade discount
sales discount
credit discount
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- A boutique buys some merchandise with a list price of $3,800. If the wholesaler extends a 30% trade discount rate, find the trade discount (in $).A photographer buys some merchandise with a list price of $5,000. If the supplier offers trade discount rates of 20/15/10, find the trade discount (in $). (Find the single equivalent discount first.)JoAnne's Fabric buys merchandise with a list price of $12,400. Use the complement method to find the net price if the wholesaler offers trade discounts of 15/20/5. (Round to the nearest penny)
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- Walmart sells a bike that cost $100 to a customer for $250 cash. Using a perpetual inventory system, the entry to record the sale includes a debit to ___________ and credit to ___________ ____________ for $250. The entry to record the cost of the sale includes a debit to Cost of Goods Sold and a credit to ___________ for $100. (Enter only one word per blank.)The following transactions were selected from among those completed by Hailey Retailers in the current year: Nov. 20 Sold two items of merchandise to Customer B, who charged the $600 (total) sales price on her Visa credit card. Visa charges Hailey a 2 percent credit card fee. 25 Sold 14 items of merchandise to Customer C at an invoice price of $3,600 (total); terms 2/10, n/30. 28 Sold 12 identical items of merchandise to Customer D at an invoice price of $7,800 (total); terms 2/10, n/30. 30 Customer D returned one of the items purchased on the 28th; the item was defective and credit was given to the customer. Dec. 06 Customer D paid the account balance in full. 30 Customer C paid in full for the invoice of November 25. Required: 1. Prepare the appropriate journal entry for each of these transactions. Do not record cost of goods sold. 2. Compute Net Sales. I just need help with the journal entry on Dec. 06 and also computing the net sales.Buttons and Bows received a shipment with a list price of $2,600. The store received a trade discount of 25/15. How much does the store need to pay for this shipment?
- A discount store purchased some special product at a list price of $1,400. If the broker gives a 10.25% trade discount, what is the amount of the trade discount? $143.50 $840.00 $1,256.50 $1,484.00Review the following situations and record any necessary journal entries for Mequon’s Boutique. May 10 Mequon’s Boutique purchases $3,000 worth of merchandise with cash from a manufacturer. Shipping charges are an extra $100 cash. Terms of the purchase are FOB Shipping Point. May 14 Mequon’s Boutique sells $3,700 worth of merchandise to a customer who pays with cash. The merchandise has a cost to Mequon’s of $1,800. Shipping charges are an extra $150 cash. Terms of the sale are FOB Shipping Point. If an amount box does not require an entry, leave it blank. Assume the perpetual inventory system is used. May 10 Purchase - Select - - Select - - Select - - Select - May 10 Shipping charges - Select - - Select - - Select - - Select - May 14 Sale with cash - Select - - Select - - Select - - Select - May 14 Cost of sale - Select - - Select - - Select - - Select -A retailer ordered 20 sets of dining table and received an invoice dated 25 March 2009 for RM15,000 including the transportation cost with cash discount terms of 7/15, n/30 and trade discount 8% and 4%. The transportation cost was RM1,584. i) Find the last date to receive the cash discount. ii) Calculate the net price for 20 sets of dining table. iii) Determine the total payment if the retailer pays the invoice on 8 April 2009