1. What are the amount of the cash discount and the net amount due if the discount is Caken? Revised Total Discount Cash discount $54,451.40 $54,451.40 Merchandise total Cash discount $1,150.00 Insurance and shipping Net amount due If Sound Design sends in a partial payment of $20,000 within the discount period, what is the net balance still due? Partial payment credit = Merchandise total Partial payment credit $1,150.00 Insurance and shipping Net balance

what is the Credit for partial payment knowing that information?

A buyer who purchases merchandise under credit terms of 1/10, n/30 has 30 days after the invoice date to take advantage of the sales discount.

H1.

PARRISH Pg. 173  PURCHASE DISCOUNTS INVENTORY NET METHOD Please explain the following transactions for periodic and perpetcual Discounts using the Net Method.   Receipt of Invoice Periodic Dr.     Purchases                  980 Cr.                Accounts Payable 980 Perpetual Dr.      Inventory  980 Cr.              Accounts Payable  980 Payment within discount period Periodic Dr.        Accounts Payable      980 Cr.                            Cash              980 Perpetual Dr.   Inventory          980 Cr.                 Cash          980 Payment after discount period Periodic Dr.      Accounts Payable 980 Dr.      Interest Expense  20 Cr.                  Cash                1000 Perpetual Dr. Accounts Payable       980 Cr.           Interest Expense           20 Cr.           Cash                                                                                                                                                    1000

A computer lists for $ 600. 1. Find the trade discount if a discount rate of $ 10 is offered. 2. Find the net price. 3. Find the net price rate. 4. Use the net price rate to recalculate the net price.

Match the.last day the discount may be taken to each letter Invoice Date Date Merchandise was Last Date Received Terms for Cash Discount a. September 28 October 4 8/10 EOM b. July 28 August 2 8/10 ROG C. January 22 January 27 2/10 EOM d. March 21 March 27 2/10 ROG е. May 30 June 6 1/15, n/30 f. September 14 September 17 3/10,n/30