Terms of discount
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- Refer to RE6-8. On April 23, 2020, McKinncy Co. receives a check, from Mangold Corporation for 8,500. Prepare the journal entry for McKinncy to record the collection of the account previously written off.Use the information in RE3-6, (a) assuming Ringo Company makes reversing entries, prepare the reversing entry on January 1, and the journal entry to record the payment of the note on April 1; and (b) assuming Ringo does not make reversing entries, prepare the journal entry to record the payment of the note on April 1.An invoice is dated may 22 with terms 4/18 EOM, Assuming the net date is 20 days after discount date. What is the discount trade and the net date
- An invoice is dated for June 28 for $8657 with terms of 8/10 EOM,ROG . The merchandise was received on July 3 , how much should be paid on or before August 1?An invoice of OMR 15000 with the terms 6/10, 3/15, n/30 is dated on June 15. The goods are received on June 23. The bill is paid on July 5. Calculate the amount of discount paid. Ordinary EOM ROGYou purchase goods on an invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last day of the discount period, and (b) the last day of the credit period.
- Solve for the amount of discount and amount due.Invoice amt: $533.75Invoice date: Mar 7Terms: 2/10 - 20xGoods rec'd: Mar 9Date paid: Apr 6PLEASE SHOW ALL WORK You purchase goods on an invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last day of the discount period, and (b) the last day of the credit period.An invoice of RO500 with the terms 2/10, n/30 ROG is dated on June 10. The goods are received on June 18. The bill is paid on June 25. Calculate the amount of discount paid.
- The invoice date for a bill is April 13 with the terms 3/15 ROG. If the goods were received on April 23, determine the discount date and due date. A. April 18 and May 12 b.May 8 and May 28 C.May 15 and June 4 D.April 28 and May 18Complete the following Invoice Date goods are received terms last day of discount period final day bill is due (end of credit period) June 27 3/10 EOMThe invoice date for a bill is April 14 with the terms 2/15 ROG. If the goods were received on June 3, determine the discount date and due date. A. July 18 and May 25 B.June 18 and July 8 C.April 29 and May 19 D.June 8 and July 18
