Next Question Find the credit-card sales less refunds for the Sales/Refund record for 09/24/10. 24/10 Sales Refunds ..... $71.86 $451.59 $88.49 $229.23 $76.53 $85.04 The credit-card sales less refunds for 09/24/10 is $ $149.72 $115.02 $81.45 $30.75 $111.02 $254.84 $162.81
Q: Question 13 A customer returns $690 worth of merchandise and receives a full refund. What accounts…
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…
Q: invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last day of the discount period, and…
A: Generally the discount is given by the supplier in order to receive the immediate payment and create…
Q: Customer for $7,600 with credit terms 3/10, n/30. Flores od of accounting for sales discounts. is…
A: Journal entries are defined as reporting of the transactions into the books of the entity and it is…
Q: In the credit terms 1/10, n/30, what does the "1" represent? Group of answer choices number of days…
A: Solution Concept Meaning of term credit terms 1/10, n/30, It means that if the payment is made…
Q: CALCULATOR PRINTER VERSION BACK NEXT Multiple Choice Question 187 Pharoah Company had net credit…
A: The account receivable turnover ratio is calculated to evaluate the efficiency of company to convert…
Q: total amount of the credit-card sales on the record for the date 09/24/10. 4/10 ...... Sales Refunds…
A: Sales revenue refers to the income received through firm from its goods sale or from provision of…
Q: 4. Find the (a) cash discount and (b) net amount due if the following invoices are paid within the…
A: Hi student Since there are multiple questions, we will answer only first question. If you want…
Q: Company X sells $400 of merchandise on account to Company Y with credit terms of 2/10, n/30. If…
A: Merchandise Inventory: Merchandise is the stock of goods bought by a wholesaler, or a retailer, or a…
Q: Jacob Co. sells merchandise on credit to Isaiah Co. in the amount of $9,700. The invoice is dated…
A: Businesses often provide discounts for the early payments by customers in respect of credit sales.…
Q: Journalize the following transactions using the direct write-off method of accounting for…
A: Journalizing is a process of recording the financial transactions in a book called journal. Journal…
Q: Issued Check No. 319 to Martin Company for merchandise purchased September 2, $8,500, terms 1/10,…
A: A credit memo is given at time of sales return by the seller to the buyer. 1/10, n/30 terms means…
Q: Find the credit-card sales less refunds for the Sales/Refund record for 09/24/10. 09/24/10 Sales…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: Bramble Company sells merchandise on account for $4800 to Cullumber Company with credit terms of…
A: Sales Revenue = $4,800 Credit Terms = 1/10, n/30 Sales Returns = $1,100 Therefore, Amount Due =…
Q: MAKE THE NECCESSARY JOURNAL ENTRIES FOR THE FOLLOWING TRANSACTIONS 10) Order is delivered to…
A: Value added tax is an indirect tax levied on the sale of goods or services on the value added by the…
Q: Suppose that your credit card activity for December looked like this: Date Activity December 5 $234…
A: The average daily balance is the estimation of the amount on which the interest has been calculated…
Q: Next Question Find the amount of the bank charge on the Sales/Refunds record for 09/24/10 if the…
A: As per the honor code, we can answer only one question at a time, we have answered the first…
Q: TB MC Qu. 07-149 (Algo) MacKenzie Company sold... MacKenzie Company sold $460 of merchandise to a…
A: Company will record cash sales transaction in its books, as the payment has been made by the…
Q: Accounts Receivable, beg. 140,000.00; Accounts Receivable, end 75,000; Net Sales - 3,500,000.00. Of…
A: Answer - Cash Collection from Sales on Account = Beginning Accounts receivables + Sales - Ending…
Q: The entry to record a sale of P1,800 with terms of 2/10, n/30 will include a a. debit to Sales…
A: Journal entries are used by the companies, firms, NPO, etc. to keep a record of the transactions…
Q: Jacob Co. sells merchandise on credit to Isaiah Co. in the amount of $9,700. The invoice is dated…
A: Formula: Sales discount = Invoice amount x Discount rate
Q: Widgets, Inc. makes a $300 on account sale to Custom Motors. How is the sale recorded in the…
A: Accounts receivable is the amount due for the goods sold on credit.
Q: The entry to record the receipt of payment within the discount period on a sale of $2400 with terms…
A: Credit terms of 2/8, n/30 indicates the The company will receive a 2% sales discount if the payment…
Q: The entry to record the receipt of payment within the discount period on a sale of $2,000 with terms…
A: Sales Discounts = Receivable amount x rate of discount = $2,000 x 3% = $60
Q: Jacob Co. sells merchandise on credit to Isaiah Co. for $10,400. The invoice is dated on May 1 with…
A: Discount: It refers to a percentage that is deducted from the normal selling price of a product.
Q: The credit policy of Home Living Stores is 2/10 net 30. At present 25% of customers take advantage…
A: Given term 2/10 net 30
Q: Select a description for each transaction recorded in the following T accounts: Cash (c) 5,042.10…
A: (a) Sold merchandise on account.
Q: ENERAL JOURNAL Page 52 DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 20-- 1 2 August…
A: A general journal is prepared to record the business transactions into books of accounts initially.…
Q: 29 Kevin Nolon (122) (401) (231 CASH RECEIPTS JOURNAL Accounts Sales T General Receivable Sales…
A: Transactions are posted to the appropriate (sales journal and cash receipt are shown below: Sales…
Q: ACCOUNTS RECEIVABLE LEDGER NAME: E. McKenzie ADDRESS: 4717 Erin St, Madison, WI 53713 DATE ITEM…
A:
Q: Credit memos from the bank Select one: a. decrease a bank customer's account b. are used to show a…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Customer Andrews Career Center 110 Balance Customer No. Date Items Post Ref. Debit Credit Debit…
A: Accounts Receivables - Accounts Receivables are the amount unpaid by the customer for the service…
Q: Riverbed Retailers accepted $ 31500 of Silver Bank MasterCard credit card charges for merchandise…
A: Here in this question, we are required to determine which heads are needs to debt for recording…
Q: 17 - THE CODE AND NAME OF THE ACCOUNT WILL BE DEBT 153 COMMERCIAL GOODS XXX 191 DEDUCTIBLE VAT XXX…
A: Commercial goods, checks given, deductible VAT are all accounts related to purchase of goods. Crates…
Q: Sales-Related Transactions, Including the Use of Credit Cards Journalize the entries for the…
A: Required journal entries are given below:
Q: Find the total amount of the credit-card refunds on the record for the date 09/24/10. 09/24/10 Sales…
A: The Credit card refunds is calculated as adding all the refund as on the said date. The credit card…
Q: Question 2 Credit Sales, Credit Purchases & Returns You are to enter the following items in the…
A: Every business would have a certain amount of purchases and sales. These transactions are the…
Q: ry 2018, Megamart company grants an allowance to a Max traders, a customer of RO 2,600 for the goods…
A: In the given situation, Mega-mart company is granting an allowance to max traders for RO 2,600 as…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Calculate the monthly service charge to a business that had an average balance of $729 and wrote 40 checks. EIT Average Balance Maintenance Charge Per Check Charge $5000 $0.00 $0.00 ..... The monthly service charge is $The contra revenue account that represents the reduction in the amount paid by a credit customer if payment is made within a specified period of time is known as which of the following: O Contra revenue account O Sales allowance account O Sales discount account O Allowance for uncollectible accounts ASUS f3 f4 f5 f6 f7 f8 f9 f10 f11 区 ロ/京 %24 & 3 4. 7. 8 9. 01 Y U G H. J K 16 5 图Next Question Find the total amount of the credit-card sales on the record for the date 09/24/10. 24/10 Sales Refunds $72.29 $488.57 The total of the credit-card sales for 09/24/10 is $ $72.37 $91.62 $180.47 $184.67 $52.32 $91.41 $75.09 $291.95 $135.36 $126.67 $258.07
- C. P177.60 d. P29.60 P74.40 P300 P620 30% e. 4. Find the (a) cash discount and (b) net amount due if the following invoices are paid within the discoun period. Net invoice price P3,265 Net amount due Terms of payment 3 п Cash discount 10'30 P 1,342 15'60 2 n P985 5'15 5. Find the (a) deadline for discount period, (b) deadline for credit period, (c) cash discount and (d) amount due for the following cases. Deadline of discount Net Deadline of credit Invoice Terms of Cash Invoice date amount due amount payment discount period period 1 n P 1,675 Jan. 15 15'45 P645 Feb. 25 10'30 1n P 895 March 12 10'45 3 2 P785 April 22 . 15'20'90 6. The net invoice price of a wall clock is P287.00. If the discount granted was 18%, find: a. Net invoice price rate b. List price C. Discount 7. The net invoice price of a dining table is P6,187.50, representing 75% of the list price. Find: a. List price b. Discount9. The entry to record the receipt of payment within the discount period on a sale of P10,000 with terms of 3/15, n/60 will include a a. debit to Sales Discounts for $300 b. debit to Cash for P9,700. Credit to Sales Revenue for P9700 c. credit to Accounts Receivable for P9,700. d. credit to Sales Revenue for P10,000.need help finding the net payment and credit towards account still due invoice amount= $538.42 date of invoice= April 23 Date of payment= May 14 credit terms= 3/10,1/15, n/30 E.O.M Net price= ?
- 12. Solve for the amount of discount and amount due. Invoice amt: $ 314.88 Invoice date: Sept 17 Terms: 4/ 11 EOM Goods rec'd: Sept 20 Date paid: Oct 9question General ledger Debit Credit Balance 01.11.20 50,000 31.12.20 Rental Revenue 6000 56,000 31.12.20 Rental Revenue 1800 57,800 01.01.21 Rental Revenue 6,000 51,800 Kindly show me the T Accounts for the above general ledger.7. Complete the table. Invoice Terms Last Date Last Date Date Net Price Complement Cash Price Date to Take to Pay Paid of Discount Invoice cash-discount rate Аpril 18 April 6 5/15, n/30 $109.82
- 1. What amount was received from the note receivable discounting? a. 4,017,000b. 4,120,000c. 4,103,000d. 3,965,500 2. What amount should be reported as loss on note receivable discounting? a. 40,000b. 23,000c. 17,000d. 20,00010.The entry to record a sale of P1,800 with terms of 2/10, n/30 will include a a. debit to Sales Discounts for P36. b. debit to Sales Revenue for P1,764. c. credit to Accounts Receivable for P1,800 d. credit to Sales Revenue for P1,8002.16) Find the average daily balance (new purchases included) Dates Payment End of Day Balance 4/1-4/5 4/6 4/7-4/22 4/23 4/24-4/30 Average $380.00 Purchase $110.00 Po X $300.00 x $410.00 x $410.00 X $30.00 X $30.00 x Total Number of Days v 5 1 16 1 7 30 Sum of Balances $1,500.00 $410.00 $6,560.00 $30.00 $210.00