Chapter 5, Problem 1.11C

Bought delivery van P850,000 terms 20% down and the balance payable in oneyear.  Required: 1. Record the transaction in the general journal.

A $1,000 sale is made on May 1 with terms 2/10, n/30.Items with a $100 selling price are returned on May 3.What amount, if received on May 9, will be consideredpayment in full?a. $700 c. $882b. $800 d. $900

Kristopher Company sold $40,500 of goods to Evan Company on credit on March 1, 2022. Terms were 3/10, n/30.   Required:   Prepare the journal entry on Kristopher’s books to record the sale. Prepare the journal entries to record collection, if the customer paid on April 8, 2021. Prepare the journal entry to record collection, if the customer paid on March 8, 2021.

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?

Winona's furniture received an invoice dated September 27 for five bedrooms sets at $3,000 each. The invoice indicated a trade discount of 5/8/3. The seller of the furniture prepaid the freight of $200. Terms were 2/10 EOM. Assuming Winona pays on November 2, what amount will be paid? ( including the freight cost)

B. At December 31, 2020, Hersheys Company had 1,000 gift certificates outstanding, which had been sold tocustomers during 2020 for P720. Laser operates on a gross margin of 60%. 2. How much revenue pertaining to the gift certificates should be deferred at December 31, 2020?

Prudential Company sold 30 air conditioning units, on January 15, 2020; sale price for each unit is P40,000.All of the sales are subject to terms 2/10, n30; the entity used the net method of accounting for accounts receivable.Required;1. prepare journal entry to record the sale.2. prepare the journal entry to record receipt of the payment assuming the correct amount was received on January 25, 2020.3. prepare the journal entry to record receipt of the payment, assuming the correct amount was received on February 10, 2020.

1) the 456 company purchased office supplies from A-One supplies worth P44,000 on May 29, 2021. A-one supplies gave the buyer trade discount of 10% and 5%. the buyer agreed with the term 2/10, n/45. How much will be paid by 456 company on June 8? a) 36867 b) 37630 c) 44000 d) 39600   2. below are some data of the income statement accounts of wishing well company for the year dec 31, 2021: inventory,beginning 430,800 inventory,end 399,500 freight - in 36,780 purchase discount 22,500 merchandise available for sale 1,230,500 how much is the cost of goods sold? a) 777,200 b) 799, 700 c) 740,420 d) 831,000   3) the 456 company purchased office supplies from a-one supplies worth 80,000 on april 4, 2021 A- one supplies gave the buyer trade discount of 5% and 2% the buyer and supplier agreed with the term 5/15, n/30. How much will be paid by 456 company on april 18? a) 80,000 b) 76,000 c) 70,756 d) 74480

Rahe Corp. sold a customer service contract with a price of $20,000 to Peterson Warehousing. Rahe Corp. offered terms of 2/10, n/30 and expects Peterson to pay within the discount period. Required: Prepare the journal entry to record the sale using the net method. Prepare the journal entry assuming the payment is made within 10 days (within the discount period).