30-day billing cycle Previous balance 9/16 Billing date 9/19 Payment 9/30 Charge: Home Depot 10/3 Payment 10/7 Cash advance Finance charge is 1.5% on average daily balance. Average daily balance Finance charge $ 2,741.00 $ 41.12 $ 72 credit 2,100 72 credit 82 $ 3,200

View Policies Current Attempt in Progress Vaughn Bikes Ltd. reports cash sales of $6,600 on October 1. (a) Record the sales assuming they are subject to 13% HST. (b) Record the sales assuming they are subject to 5% GST and 9.975% QST. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Round answers to 0 decimal places, e.g. 5,275.) No. Date Account Titles and Explanation Debit Credit (a) Oct. 1 (b) Oct. 1 eTextbook and Media List of Accounts

The credit term 3/10 net 30 signifies: a. Credit period 30 days, cash discount 3 percent and cash discount period 10 days b. Credit period 30 days, cash discount 10 percent and cash discount period 5 days c. Credit period 60 days, cash discount 5 percent and cash discount period 10 days d. Credit period 5 days, cash discount 10 percent and cash discount period 60 days

Action Signs recorded credit sales of $10,000 on the gross method. Terms are 2/20, n/30. How would the entry to this sale be recorded? cash decreases by $3,000 sales discounts increase by $200 sales increases by $9,800 accounts receivable increases by $10,000

Question 13 On November 1, Fastly Co. sold goods and accepted a note of $72,000, six-month, with annual interest rate of 10% (real from the customer. The December 31 adjusting entry should be: Debit Interest Receivable 3,600; Credit Interest Revenue 3,600 Debit Interest Receivable 1,200; Credit Interest Revenue 1,200 O Debit Discount on Notes Receivable 1,200; Credit Interest Revenue 1,200 Debit Interest Revenue 3,600; Credit Interest Receivable 3,600

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Entries for discounted note payable A business issued a 60-day note for $48,000 to a bank. The note was discounted at 7%. Assume a 360 days in a year. Question Content Area a.   Journalize the entry to record the issuance of the note. If an amount box does not require an entry, leave it blank. If necessary, round your answers to one decimal place. blank Account Debit Credit     - Select - - Select -     - Select - - Select -     - Select - - Select -   Question Content Area b.  Journalize the entry to record the payment of the note at maturity. If an amount box does not require an entry, leave it blank. blank Account Debit Credit     - Select - - Select -     - Select - - Select -

Calculate average daily balance: (Round your answer to the nearest cent.)   29 Day Billing Cycle  9/6 Balance $600 9/18 Payment $200 9/24 Charge $300 Average daily balance

Entries for Discounted Note Payable A business issued a 60-day note for $60,000 to a bank. The note was discounted at 8%. Assume a 360-day year. a. Journalize the entry to record the issuance of the note. For a compound transaction, if an amount box does not require an entry, leave it blank. Cash ✔ 0✔ Interest Expense✔ Notes Payable ✔ Feedback 0 0 0 600,000 X Check My Work a. Why is the company issuing the note? What type of note is being issi (interest-bearing or discounted)? Hot much will the company owe on the maturity date? b. Journalize the entry to record the payment of the note at maturity. If an amount box does not require an entry, leave it blank. Notes Payable ✓✔ 0 ✓ Cash

K An invoice is dated June 18 with terms 3/10-50 ex. Find the final discount date and the net payment date. The net payment date is 20 days after the final discount date. The final discount date is The net payment date is June July ▼ ▼ CHE