Freight Paid by Seller Returns and Allowances (Invoice Amount) Merchandise (Invoice Amount) Freight Terms $24,000 $300 FOB destination, 1/10, n/30 $2,000 31,500 250 FOB shipping point, 2/10, n/30 2,500

Q: Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns…

A: Inventory: It refers to the items held by an organization which were in various forms like raw…

Q: Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming…

A: Cost of merchandise sold can be defined as the direct cost of producing the products or services. It…

Q: On April 5, 2020 Company A sell merchandise to Company L for P50,000 under the terms: 2/10, n/30 FOB…

A: Under FOB shipping point, the freight charges are paid by the buyer.

Q: The debits and credits from four related transactions, (1) through (4), are presented in the…

A: FOB Shipping Point – Purchaser is responsible for paying the shipping charges.They are usually…

Q: Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…

A: a Amount to be paid in full settlement =  $22,080  = ($24,000 - $2,000) x (100%- 1%) + $300

Q: freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…

A: IF the term is FOB shipping point then freight is added to the total cost but if the term is FOB…

Q: Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…

A: In this case only part a is mentioned, we are proceeding with part a

Q: Determine the amount to be paid in full settlement of each of two invoices (a) and (b), assuming…

A: Introduction: Purchase discount: Goods are purchased on credit. If payment is made within discount…

Q: Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…

A: FOB Shipping point means Free on Board Shipping point. It means buyer is responsible for the goods…

Q: Purchase-related transactionsThe debits and credits from four related transactions, (1) through (4),…

A: Credit terms were 1/10, n/30 means that 1% discount will be allowed if payment is made within 10…

Q: Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns…

A: Determination of Amount to be paid in full settlement is as follows: Answer a)

Q: Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming…

A: Under FOB shipping point, freight is paid by the buyer, while under FOB destination freight is the…

Q: transportation is prepaid by the seller, and that the invoice is paid within the 20. A sales invoice…

A: Discount is provided if the payment is made within the specified period.

Q: Determine the amount to be paid in full settlement of each of two invoices (a) and (b), assuming…

A:

Q: MAKE THE NECESSARY JOURNAL ENTRIES FOR THE FOLLOWING TRANSACTIOn: 1)Merchandise acquired cost is…

A: Journal Entries are primary records maintained by the entity in the books of account, on the…

Q: Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…

A: Freight: Freight is the shipping cost that a buyer pays for the merchandise purchased. It is a…

Q: Merchandise with a list price of $4,700 is purchased on account, terms FOB shipping point, 1/10,…

A: 1/10, n/30 means 1% discount is offered is payment is made within 10 days of a 30-day payment…

Q: Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns…

A: FOB Shipping Point-indicating that the buyer must pay to get the goods delivered. FOB (Freight on…

Q: A sales invoice included the following information: merchandise price, $8,100; terms 1/10, n/eom,…

A: Sales invoice: Sales invoice refers to the document which is used to inform the customer the amount…

Q: entered into the following transactions: Terms: FOB shipping point; 3/10, n/30. Paid freight charges…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…

A: FOB Shipping Point : This means the seller sends the inventory free on board.  The buyer bears the…

Q: a. Purchased goods in transit, shipping FOB Destination. Invoice price - P64,000, which includes…

A: Purchased goods in transit = Purchased goods in transit+ freight costs  = P96,000 + P6,000 =…

Q: Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns…

A: Note: Under FOB destination, freight is the seller's expense and under the FOB shipping point,…

Q: Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on account, $112,000,…

A: Inventory: It refers to the items held by an organization which were in various forms like raw…

Q: A sales invoice included the following information: merchandise price, $9,700; terms 1/10, n/eom,…

A: Sales invoice: Sales invoice refers to the document which is used to inform the customer the amount…

Q: Gross amount of invoice (freight charge already included) Net amount Freight charge Date of Terms of…

A: 4/10 , 2/15 net 30 means 4% discount will be there if payment is made with in 10 days , 2% discount…

Q: Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming…

A: Amount finally to be paid on settlement = Value of merchandise + Freight paid by seller - credit for…

Q: c. Shipping terms are F.O.B. shipping point, freight prepaid. Ilano paid the shipping costs on June…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

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

A: n/20 invoice should be settled in 20 days 1/10, n/30. Invoice should be settled in 30 days, if it is…

Q: Merchandise with a list price of $4,700 is purchased on account, terms FOB shipping point, 1/10,…

A: FOB shipping point: Under FOB shipping point the possession of goods are with the seller until the…

Q: FDN Trading recorded the following events involving a recent purchase of merchandise: Received…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: FDN Trading recorded the following events involving a recent purchase merchandise: Received goods…

A: Solution: Net cost of purchases is cost of goods purchased reduced by return and discounts and…

Q: Purchase-Related Transactions The debits and credits from four related transactions, (1) through…

A: 1/10 net 30 means 1% discount will be there if payment is made with in 10 days and no discount after…

Q: Sales Transactions Journalize the following merchandise transactions: a.  Sold merchandise on…

A: Since we only answer only one question, we’ll answer the first question. Please resubmit the other…

Q: Sales-Related Transactions After the amount due on a sale of $172,675, terms 2/10, n/30, is received…

A: Sales means when goods and services are sold to customers. Sales return means when customer returns…

Q: Affectionate Company sold merchandise on account for P500,000. The terms are 3/10, n/30.…

A: Freight out:- Freight out is defined as the transportation cost that incurred at the time of…

Q: Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…

A: Answer -   Part a.- Purchase                                                           $36,000…

Q: On December 27, 20x1, YGS Co. received a sale order for a credit sale of goods with selling price of…

A: Under FOB destination, titles of goods are transferred to the buyer only when goods are delivered to…

Q: Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming…

A: This is a question of Merchandise operations.  Credit for refund and discount is reduced from the…

Q: Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns…

A: Amount paid = Purchase - Returns and allowances - Discount + Freight paid by seller (if FOB at…

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

A: Requirement a:   Compute the net amount to be paid.

Q: Freight terms Determine the amount to be paid in full settlement of each of twoinvoices, (a) and…

A: Note: Under FOB destination freight is the seller's expense but under FOB shipping point, freight is…

Q: Purchase-Related Transactions The debits and credits from four related transactions, (1) through…

A: The transactions are recorded through journal entry. The purchases are recorded through inventory…

Q: Details of purchase invoices including shipping terms, credit terms, and returns appear below.…

A: Credit terms: Goods sold on credit. if the buyer pays with in discount period then buyer is eligible…

Q: Freight terms Determine the amount to be paid in full settlement of each of the two invoices (a) and…

A: FOB shipping point: Under FOB shipping point the possession of goods are with the seller until the…