Muscat Electronics purchased 400 Galaxy mobile phone at RO 70 each from Sohar Electronics. The supplier offers a trade discount of 5% on invoice price. The Net amount payable to supplier is
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Q: Muscat Electronics purchased 400 Galaxy mobile phone @ RO 70 each from Sohar Electronics. The…
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Q: 10. Purcell Export received an invoice dated August 21 from Dutch Specialties of Amsterdam with…
A: Hi student Since there are multiple questions, we will answer only first question. There are two…
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Q: Backyard World buys plastic pools from a supplier with an invoice amount of $13,500. The terms of…
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Q: On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 62…
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Q: 25-Muscat Electronics purchased 400 Galaxy mobile phone at RO 70 each from Sohar Electronics. The…
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Q: On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 67…
A: When chain discount is provided, the final price is coputed by subtracting the subsequent discount…
Q: Backyard World buys plastic pools from a supplier with an invoice amount of $15,500. The terms of…
A: Total invoice payment made = partial payment made / (1 - discount rate) = $8,300 / (1 - 0.05) =…
Q: Lamplight Plus sells lamps to consumers. The company contracts with a supplier who provides them…
A: Given: There is no need for immediate cash payment, payment will be made within 30 days from the…
Q: Purcell Export received an invoice dated August 21 from Dutch Specialties of Amsterdam with terms…
A: First We need to calculate invoice Amount then calculate Amount paid to make remaining balance to…
Q: Import Exclusives Ltd. received an invoice from Dansk Specialties of Copenhagen with terms 5/20…
A: Terms of sale 5/20 Receipt of goods…
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A: Payment terms of 5/10, n/30 states that if the payment is made within 10 days then the buyer is…
Q: Appliance Store realizes a mark-up of PHP3,450 in selling TV sets. If its items are sold at a…
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Q: liwat Company purchases goods for OMR 18,000 from the supplier and makes payment along with VAT, The…
A: VAT is a value added tax lived on goods and services for value added at every stage of production or…
Q: Muscat Electronics purchased 400 Galaxy mobile phone at RO 70 each from Sohar Electronics. The…
A: Total purchases = No. of mobile purchased x purchase price per mobile = 400 x RO 70 each = RO…
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- Backyard World buys plastic pools from a supplier with an invoice amount of $13,500. The terms of the sale are 5/10, n/30. If the retailer sends a partial payment of $8,300 on the discount date, what is the net amount still due?Kindness Company regularly buys sweaters and is allowed a trade discount of 20% and 10%. The entity made a purchase on March 20 and received an invoice with a list price of P900,000, a freight charge of P50,000, and payment terms of net 30 days. What is the cost of the purchase?Purcell Export received an invoice dated August 21 from Dutch Specialties of Amsterdam with terms 5/20, n/45 for: 10 wood trays at $37.45 each; 35 wood planters at $43.75 each; 50 wood bowls at $37.25 each. If only a partial payment is made on the last day of the discount period, what amount is due to reduce the outstanding balance to $1500.00? Round to nearest 100th.
- Purcell Export received an invoice dated August 21 from Dutch Specialties of Amsterdam with terms 5/20, n/45 for: 10 wood trays at $ 37.45 each; 35 wood planters at $ 43.75 each;50 wood bowls at $ 37.25 each. a)What is the amount due if the invoice is paid in full on September 6? Round to the nearest 100th. b)If only a partial payment is made on the last day of the discount period, what amount is due to reduce the outstanding balance to $ 1500? Round to the nearest 100th.Sepaba Ltd. received an invoice dated November 20 from Wallis Specialties of Germany with terms 5/20, n/45 for: 10 vases at $35.00 each; 20 figurines at $50.50 each; 40 glass flutes at $80.50 each. All items are subject to trade discounts of 30%, 10%, 5%. What is the last day of the discount periodA retailer received an invoice for the purchase of twenty rackets at RM140 each. He was given trade discounts of 15% and 5%. The cash discount terms on the invoice were 3/10, n/30. (a) Determine the single trade discount rate that is equivalent to the chain discounts. (b) Calculate the amount of payment if it is made one week after the date of invoice
- A dealer received an invoice for the purchase of 200 pocket calculators listed at RM30 each and 20 cash-register machines listed at RM500 each. The invoice was dated 2 August 2010. He was offered trade discounts of 12%, 10%, and cash discount terms of 10/10,5/20, n/30. i) Find the single equivalent discount for the given trade discount. ii) If the dealer paid the invoice in full payment on 13 August 2010, find the amount of the full paymentPatrick's Paint Supplies purchased $7,400 worth of easels, canvas, and pallets from their supplier to sell in their store. The invoice for the order showed a trade discount of 35%. The net price that Patrick's Paint Supplies must pay is $4,810. True or FalseDean Company regularly buys sweaters from Mill Company and is allowed a trade discount of 20% and 10% from a list price. Dean made a purchase on March 20 and received an invoice with a list price of P900,000, a freight charge of P50,000, and payment terms of net 30 days. Dean should report purchases at Choices: P698,000 P648,000 P680,000 P630,000
- GJ Office Supplies offers the following discounts: Trade discounts of 10% at list price and another cash discount of 5% if paid in full before the due date. How mush is to paid if a customer pays before due date at a list price of P62,000.Jump & Play Inc. sold 10 outdoor playsets to BigMart Co. The playsets are listed at $1,500 each; Jump & Play offered a trade discount of 10% to BigMart Co. BigMart Co. retails the playsets to customers at a price of $1,800. If Jump & Play sells the playsets to BigMart on account, what is the receivable per playset that Jump & Play should record? Question 4 options: $1,800 $1,350 $1,500 $1,620Bulldog Inc. recently made a $75,000 purchase from a vendor. The vendor will accept payment by check or ACH. In either case, the vendor offers net trade credit terms of 30 days. The assistant treasurer of Bulldog Inc. notes that payment by check will provide an additional 3 days of float (beyond the 30 days of trade credit), relative to payment by ACH (assume an additional one day of float beyond the trade credit period). In an effort to encourage Bulldog Inc. to pay via ACH, the vendor has offered a 0.50% discount for ACH payments. Assuming a discount rate of 5%, which disbursement approach should Bulldog Inc. use? Ignore the transactions cost associated with the check and ACH entry.
