Chapter 4, Problem 1.5C

Beth uses the net invoice method to record sales on account.  Beth made sales of $40,000 with terms 3/15, net 45.  The customer pays after 25 days.  Journalize: Date Accounts Debit Credit

EA1. On March 1, Bates Board Shop sells 300 surfboards to a local lifeguard station at a sales price of $400 per board. The cost to Bates is $140 per board. The terms of the sale are 3/15, n/30, with an invoice date of March 1. Create the journal entries for Bates to recognize the following transactions.A. the initial saleB. the subsequent customer payment on March 10

company A issues an invoice upon selling its product to company bBelow is the information extracted from the invoiceprice : $ 100quantity: 50Term: n/3; 2/10date : 2022-oct-10 find the discount amount? and discount period?

Kindly answer in good accounting form. thank you! Maria Corporation has a branch in Caloocan. During 2021, the homeoffice shipped to the branch supplies costing P156,000 at a billed price of30% above cost. The inventories of supplies at the branch were as follows: January 1, 2021 P110,000; December 31, 2021 128,000. On December 31,2021, the home office holds inventories of P112,800 which includesP11,500 held on consignment and which excludes P5,000 inventories outon consignment. How much is the inventories in a combined balancedsheet as of December 31, 2021?

Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows: Particulars DebitRM CreditRMDelivery van expenses 1,760Lighting and heating:FactoryOffice 7,2201,490Manufacturing wages 72,100General expenses:FactoryOffice 8,1001,940Sales representatives : Commission 11,688Purchase of raw materials 57,210Rent:FactoryOffice 6,1002,700Machinery (Cost : RM40,000) 28,600Office equipment ( RM9,000) 8,200Office salaries 17,740Accounts receivables 34,200Account payables 9,400Bank 16,142Sales 194,800Van (cost RM6,800) 6,200Inventory at 31 December 2020:Raw materialsFinished goods 13,26041,300Drawings 24,200Capital 155,950TOTAL 360,150 360,150 Prepared by: Puan Siti Nor Junita Mohd Radzi Additional information:i. Inventory at 31 December 2020:a. Raw materials RM14,510b. Finished goods RM44,490ii. Depreciate machinery RM3,000; office equipment RM6,000; van RM1,200iii. Manufacturing wages due but unpaid at 31 December 2020 RM550; office rentprepaid RM140 Required: c) Prepare…

Rose Mixer Bhd. is a manufacturer of baking mixer. In January, Rose Mixer Bhd. agreesto sell baking mixers on credit to a customer, Ana Electrical Sdn Bhd. The baking mixerssold are:20 units of baking mixer Model A @ RM1,000 per unit40 units of baking mixer Model B @ RM600 per unitRose Mixer Bhd. gives a credit of 30 days to Ana Electrical Sdn. Bhd. for the debtsettlement.Required:a) Interpret are the goods sold current assets to Rose Mixer Bhd? b) Interpret are the assets sold considered items of trade receivables to Rose MixerBhd in accordance to MFRS 9 Financial Instruments?

A retailer buys merchandise from a supplier with an invoice amount of $12,600. The terms of the sale are 5/20, n/30. What is the net amount due (in $) on the order if the bill is paid by the 20th day? $       hi also the 5 is highlighted red i dont know what that mean

PT Bumi ordered 20 sets of tables and chairs to PT CBA. Price set per unit of Rp 5,000,000 with 10% VAT. If you use the accrual method of revenue recognition then the following is true:a. PT Bumi records the following journals:(D) Accounts Receivable Rp. 110,000,000(K) Sales                                                Rp 100,000,000(K) VAT Out                                           Rp   10,000,000b. PT CBA records the following journals:(D) Accounts Receivable Rp. 110,000,000(K) Sales                                                Rp 100,000,000(K) VAT Out                                           Rp   10,000,000c. PT Bumi records the following journals:(D) Cash                           Rp. 110,000,000(K) Sales                                                Rp 100,000,000(K) VAT Out                                           Rp   10,000,000d. PT CBA records the following journals:(D) Cash                          Rp. 110,000,000(K) Sales…

Sell4U is an online site that allows its clients to post items for sale. Sell4U charges a 5% brokerage fee for use of the site, payable within 10 days of the sale. As an agent, Sell4U may recognize revenue for the brokerage fee as soon as an item is sold.   True or False