Chapter 5, Problem 4.10C

Purchase-Related Transactions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $27,300, terms n/30. The cost of the merchandise sold is $16,400. Showcase Co. issues a credit memo for $4,900 as a price adjustment prior to Balboa Co. paying the original invoice. a.  Journalize Balboa Co.’s entry for the purchase. If an amount box does not require an entry, leave it blank.     fill in the blank 7347abf3d02200a_2 fill in the blank 7347abf3d02200a_3     fill in the blank 7347abf3d02200a_5 fill in the blank 7347abf3d02200a_6 b.  Journalize Balboa Co.’s entry for the credit memo. If an amount box does not require an entry, leave it blank.     fill in the blank ec7c47fae008fad_2 fill in the blank ec7c47fae008fad_3     fill in the blank ec7c47fae008fad_5 fill in the blank ec7c47fae008fad_6 c.  Journalize Balboa Co.’s entry for the payment of the invoice. If an amount box does not require an entry, leave it blank.…

PLEASE SHOW ALL WORK You purchase goods on an invoice dated July 5 with terms of 4/15, n/45 ROG. If you receive the goods on July 23, calculate(a) the last day of the discount period, and (b) the last day of the credit period.b. Last day of credit period:

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 ROG

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.

PLEASE SHOW ALL WORK you purchase goods with a list price of $455 and a trade discount of 25%. The invoice is dated October 3 with terms of 3/15, n/45.

After the amount due on a sale of $23,300, terms 2/10, n/eom, is received from a customer within the discount period, the seller consents to the return of the entire shipment for a cash refund on March 1. The cost of the merchandise returned was $17,090. Required: (a) What is the amount of the refund owed to the customer? (b) Journalize the entries made by the seller to record the return and the refund. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS   General Ledger   ASSETS 110 Cash 120 Accounts Receivable 125 Notes Receivable 130 Merchandise Inventory 131 Estimated Returns Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 195 Accumulated Depreciation-Office Equipment   LIABILITIES 210 Accounts Payable 216 Salaries Payable 218 Sales Tax Payable 219 Customers…

Merchandise subject to terms 3/10, n/25, FOB shipping point, is sold on account to a customer for $20,000. What is the amount of the sales discount allowed in case the customer pays within the discount period? Select one: a. $600 b. $460 c. $150 d. $260

Purchase-Related Transactions Stylon Co., a women's clothing store, purchased $28,000 of merchandise from a supplier on account, terms FOB destination, 2/10, n/30 using the net method under a perpetual inventory system. Stylon returned merchandise with an invoice amount of $4,200, receiving a credit memo.   a. ournalize Stylon’s entry to record the payment within the discount period of 10 days. If an amount box does not require an entry, leave it blank   b.  Journalize Stylon’s entry to record the payment beyond the discount period of 10 days. If an amount box does not require an entry, leave it blank.

After the amount due on a sale of $26,500, terms 2/10, n/eom, is received from a customer within the discount period, the seller consents to the return of the entire shipment for a cash refund on March 1. The cost of the merchandise returned was $13,050. Required: (a) What is the amount of the refund owed to the customer? (b) Journalize the entries made by the seller to record the return and the refund. Refer to the Chart of Accounts for exact wording of account titles.