Using the ordinary dating method, calculate the discount date and the net date for the following transactions. Date of Invoice Terms of Sale Discount Date(s) Net Date 13. January 29 2/10, 1/20, n/60

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Q: The credit terms of a sale are normally indicated on a(n): a.check. b.invoice. c.bill of lading.…

A: Credit terms are terms that indicate when payment is due for sales and discount offered.

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Q: A sales invoice included the following information: merchandise price, $4,200; terms 1/10, r/eom;…

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A: While issuance of invoice the terms of discount is also mentioned using EOM, ROG or extra dating…

Q: the amount recorded as a sale , and the actual amount collected when paid within the discount…

A: Trade discount is the discount which is received by the buyer of the goods on the purchase of goods…

Q: Using the EOM, ROG, and Extra dating methods, calculate the discount date and the net date for the…

A: EOM refers to "end of month". It means that discount is available for a particular number of days…

Q: The entry to record a payment on a $690 account within the 2​% discount period would include​ a:…

A: Cash discount is recorded in cash account. Any other account will not be deducted by this amount.

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Q: The amount of discount to be recorded if the invoice is paid within the discount period on a…

A: Trade discount is that discount which is being given to all the customers on the list price of the…

Q: Determine the amount to be paid by the buyer for full settlement of each invoice, assuming that…

A: 1/10 net 30 means that 1 percent discount will be given if the payment is made with in 10 days and…

Q: An invoice of RO500 with the terms 2/10, n/30 ROG is dated on June 10. The goods are received on…

A: 2/10,n/30 means 2% cash discount can be availed if payment is paid within 10 days of invoice. n/30…

Q: Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of…

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Q: The entry to record the receipt of payment within the discount period on a sale of $2400 with terms…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: You purchase goods on an invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last day of…

A: A time period of discount which is available for the customer for reducing the cash payment by cash…

Q: The entry to record the receipt of payment within the discount period on a sale of $2400 with terms…

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Q: You purchase goods with a net price of $240. The invoice is dated October 7 with terms of 3/20,…

A: The invoice is prepared to record the amount due and other terms related to payment including…

Q: Merchandise subject to the credit terms 2/10, n/30, FOB shipping point, is sold to a customer on…

A: Credit terms 2/10 means 2% discount will be given if payment is made with in 10 days

Q: The buyer received an invoice from the seller for merchandise with list price of RO 7500 and credit…

A: Understanding the payment terms: The payment terms of 2/10 and n/30 means the discount of 2% is…

Q: How do you find the date goods received, last day of the discount period, and end of credit period…

A: Compute the last day of the discount period, and end of credit period:Discount period:In this case,…

Q: Using the ordinary dating method, calculate the discount date and net date for the following…

A: DATE OF INVOICE : APRIL 23    TERM OF SALE : 3/15 , n/60 MEANS THAT 3% CASH DISCOUNT IS GIVEN IF…

Q: You purchase goods on an invoice dated July 5 with terms of 4/15, n/45 ROG. If you receive the goods…

A: Answer  - Part 1 - Computation of the last day of the discount period -  Last day of discount period…

Q: Determine the amount to be paid by the buyer for full settlement of each invoice, assuming that…

A: Explanation : 1/10 , net 30 means 1% discount is given if payment is made within 10 days otherwise…

Q: The entry to record a sale of P7,500 with terms of 2/10, n/30 would include a. Debit to sales for…

A: Note: 2/10, n/30: Here, 2 represents the discount rate if payment is made within ten days. And if…

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: Jacob Co. sells merchandise on credit to Isaiah Co. for $9,700.  The invoice is dated on May 1 with…

A: 1/15 means 1% discount will be there if payment is made with in 15 days and no discount after 15…

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Q: Hello, for each purchase below, I have to calculate the amount to be paid, taking into account any…

A: Credit sales refer to a sale in which the amount owed will be paid at a later date. In other words,…

Q: Use the ordinary dating method, calculate the discount and the net date for the transaction. date…

A: Facts: date of invoice - october 11 terms of sale  - 3/20,n/45

Q: ou purchase goods on an invoice dated July 5 with terms of 4/15, n/45 ROG. If you receive the goods…

A: The last day of the discount period represents the last day on which the customer has to pay the…

Q: Compute the amount to be paid for each of the four separate invoices assuming that all invoices are…

A: Introduction:- Discount term "2/10, n/60" means If the invoice is paid within 10 days of its date, a…

Q: The amount of discount to be recorded if the invoice is paid within the discount period on a…

A: The cash discount would be calculated on the amount, after deducting the trade discount from list…

Q: Determine the amount to be paid by the buyer for full settlement of each invoice, assuming that…

A: (Merchandise - returns and allowances) - (difference of Merchandise - returns and allowances * %…

Q: A Retailer purchased merchandise inventory with an invoice price of RO 80,000 and credit terms are…

A: The net cost of goods sold if payment made within discount period is 78,400 Net Cost of Goods…

Q: PLEASE SHOW ALL WORK You purchase goods on an invoice dated July 27 with terms of 3/10 EOM.…

A: The invoice is prepared to record the amount due from customers agains credit sales and it also…

Q: Presented below are transactions related to Tom Brokaw, Inc. May 10 Purchased goods billed at…

A: Required journal entries are: Date Particulars Debit ($)  Credit ($)                  May…

Q: Using the EOM, ROG, and Extra dating methods, calculate the discount date and the net date for the…

A: Given  The date of invoice is April 28 and terms of sale is 3% of cash discount that will be…

Q: Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of…

A:

Q: How do you find the date goods are received, last day of discount, and end of credit period when the…

A: Compute the date of goods received:  The invoice is dated for November 27th. Hence, the goods are…

Q: Using the EOM, ROG, and Extra dating methods, calculate the discount date and the net date for the…

A: EOM states that the payer need to issue the payment within the certain number of days following the…

Q: A wholesaler sold merchandise inventory with in invoice price RO 16,000 to the customer of business…

A: Credit terms 3/10, n/60 means customer will get a discount of 3% if payment is made within 10 days,…

Q: Determine the amount to be paid in full settlement of each of the following invoices, assuming that…

A: In FOB shipping point sale, freight charges are paid by the buyer. In FOB destination sale, freight…

Q: An invoice of OMR 15000 with the terms 6/10, 3/15, n/30 is dated on June 15. The goods are received…

A: Given: OMR 15000 invoice terms 6/10, 3/15, n/30 dated 15 June. June 23, such goods were received.…

Q: Compute the amount to be paid for each of the four separate invoices assuming that all invoices are…

A: Answer a) The terms 2/10, n/60 means, that 2% discount will be allowed if payment is made within 10…

Q: The buyer received an invoice from the seller for merchandise with a list price of OMR 400 and…

A: Formula: Discount allowed = List price x Discount rate

Q: a.   $fill in the blank 1 b.   $fill in the blank 2

A:

Q: Which account will be debited to record the Sale of merchandise on credit under periodic inventory…

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