What amount must be remitted if invoices dated June 28 for $815, July 7 for $780 and July 14 for $895, all terms 2/10 E.O.M., are paid together on August 7? Round to the nearest cent
Q: 3. Triton Company received an invoice for $842 dated March 9 with terms 5/10, 2/20, n/60. (a) If the…
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Q: An invoice of RO 50,000 with the terms 7/18, n/30, ROG is dated on May 10th. The goods are received…
A: Given: 7/18 means if you pay the bill within 18 days you will get a discount for 7% N/30 means if…
Q: What amount must be remitted if invoices dated June 28 for $815, July 7 for $780 and July 14 for…
A: solution : given Invoice dated Amount June 28 $815 July 7 $780 July 14 $895…
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A: Unearned revenue is that which has not been earned, but payment has been received in advance.
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Q: A credit sale of $2800 is made on July 15, terms 4/10, net/30, on which a return of $200 is granted…
A: Net Receivables = Credit sales made - Sales return = $2800 - $200 = $2600
Q: On oct 18, an invoice dated October 18 for £4250 less 15% , 17% terms 5/10, n/30 was received by…
A: The term 5/10, n/30 means that if payment is made within a period of 10 days then a 5% discount is…
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A: Discounts are offered by the seller to collect payment from the buyer in fewer days.
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A: An invoice is a list of goods or services provided with a statement of the sum due on it.
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A: Formula: Net sales = Sales - sales returns and allowances
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A: Given information is: Suppose Alladin Travel, Inc., holds a note receivable as an investment. At…
Q: On August 2, Jun Co. receives a $6,900, 90-day, 11.0% note from customer Ryan Albany as payment on…
A:
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A: Invoice is a document in which complete information is contained regarding the transaction that…
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A: Formula to calculate cash discount:Cash discount = cash amount * Discount rate
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A: Lets understand the basics. Seller for attracting early payment, gives the discount term to buyer of…
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A: Formula: Payable amount = Invoice amount - Discount amount
Q: A credit sale of $4,000 is made on April 25, terms 2/10, n/30, on which a return of $250 is granted…
A: Formula: Net sales = Sales - sales returns and allowances
Q: A credit sale of $4,000 is made on April 25, terms 2/10, n/30, on which a return of $250 is granted…
A: Formula used: Net sales = Sales - Sales returns. Deduction of sales returns from sales value derives…
Q: A credit sale of $3,600 is made on July 15, terms 2/10, n/30, on which a retur of $200 is granted on…
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Q: Prefix Supply Company received a 120-day, 8% note for $450,000, dated April 9 from a customer on…
A: b)
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A: 1. 3/10 EOM means buyer can get the cash discount of 3% if he pays the amount within 10 days from…
Q: What amount must be remitted if invoices dated August 23 for $810, September 13 for $780 and…
A: Comment- We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
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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.On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to McLaughlin Company for cash. McLaughlin Company charges a 750 service fee, advances 85% of Jordans accounts receivable, and charges an annual interest rate of 9% on any outstanding loan balance. Prepare the related journal entries for Jordan. Refer to RE6-10. On December 31, Jordan Inc. received 50,000 on assigned accounts. Prepare Jordans journal entries to record the cash receipt and the payment to McLaughlin.You received invoices from Global Inc. dated Jan 20 for $2800, Jan 25 for $4200, and Feb 1 (non-leap-year) for $1500. You have also made a payment of $4800 on Jan 27th. The invoices all have terms of 3/10, n/30. A. What is the outstanding balance on the January 25th invoice after the January 27th payment? B. What total amount must be paid on Feb 5 to settle the remaining balance on all the invoices?
- You received invoices from Wengo Industries dated Jan 20 for $2800, Jan 25 for $4200, and Feb 1 (non-leap-year) for $1500. You have also made a payment of $4800 on Jan 27th. The invoices all have terms of 3/10, n/30. What is the outstanding balance on the January 25th invoice after the January 27th payment?You received invoices from Wengo Industries dated Jan 20 for $2800, Jan 25 for $4200, and Feb 1 (non-leap-year) for $1500. You have also made a payment of $4800 on Jan 27th. The invoices all have terms of 3/10, n/30. What total amount must be paid on Feb 5 to settle the remaining balance on all the invoices?What payment on January 31, 2014 will settle an invoice for $3,500 dated January 27, 2014 and payment terms 3/10 E.O.M.? Round to the nearest cent
- An invoice of RO 50,000 with the terms 7/18, n/30, ROG is dated on May 10th. The goods are received on May 15th. The bill is paid on June 1st. Calculate the amount paid.What amount must be remitted if invoices dated August 23 for $810, September 13 for $780 and September 22 for $905, all terms 2/10 E.O.M., are paid together on October 5? DCM Clocks received the following two invoices from its supplier: $25,000 on August 29, 2014 and $24,000 on September 8, 2014. If the payment terms on both the invoices were 2.5/10, 1/20, n/60, calculate the amount that must be paid by DCM Clocks to settle both of these invoices on September 18, 2014. David, the owner of a brewery in Toronto, receives a shipment of barley on August 1, 2014 with an invoice dated July 24, 2014 valued at $39,900 and cash discount payment terms 2/10, n/30, R.O.G. What cash discount would he receive if the invoice is settled on the following dates? August 4, August 11, August 24What payment should be made on an invoice for $500 dated November 16, carrying terms 4/10, net 30?
- A credit sale of $2800 is made on July 15, terms 4/10, net/30, on which a return of $200 is granted on July 18. What amount is received as payment in full on July 24?An invoice for RO 65,000 and dated February 20th with the terms 7/13, EOM is received. The bill is paid on March 2nd. Calculate the amount paid.A credit sale of $3,600 is made on July 15, terms 2/10, n/30, on which a retur of $200 is granted on July 18. What amount is receved as payment in full on uly 247