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- On 03.03.20X1 TK sold goods at a price of EUR 35,000 plus VAT on target to the customer CB. TK will receive the payment on March 20th, 2020X1, with a 4% discount deducted, by transfer to his company bank account. At the end of 20X1 it turns out that CB has reached a sales target. CB will receive a bonus of EUR 595 (incl. VAT) by bank transfer on 12/30/20X1. Which of the following posting records result/result in 20X1 from the business transactions mentioned? Bank 41.055 EUR an Ford. also Lul 41.650 EUR customer bonuses 500 EUR Act 95 EUR cash discount expense 1.400 EUR an Bank 1.666 EUR Act 266 EUR Bank 41.650 EUR an revenues 35.000 EUR Act 6.650 EUR Bank 39.984 EUR an Ford. also Lul 41.650 EUR kash discount expense 1.400 EUR Act 266 EUR1. Riverbed Company sells goods to Danone Inc. by accepting a note receivable on January 2, 2020. The goods have a sales price of $630,700 (cost of $500,000). The terms are net 30. If Danone pays within 5 days, however, it receives a cash discount of $10,700. Past history indicates that the cash discount will be taken. On January 28, 2020, Danone makes payment to Riverbed for the full sales price. a)Prepare the journal entry(ies) to record the sale and related cost of goods sold for Riverbed Company on January 2, 2020, and the payment on January 28, 2020. Assume that Riverbed Company records the January 2, 2020, transaction using the net method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) b)Prepare the journal entry(ies) to record the sale and related cost of goods sold for Riverbed Company on January 2, 2020, and the payment on…4. Ms. Raheema purchases goods with a list price of RO 30,000. The supplier offers a 10 % trade discount, and a 2 ½ % cash discount for payment within 10 days. Required: a) Calculate the amount Ms. Raheema will have to pay if it delays longer than 10 days before paying. b) Calculate the amount Ms. Raheema will pay if it pays within 10 days.
- 3. Ms. Raheema purchases goods with a list price of RO 30,000. The supplier offers a 10 % trade discount, and a 2 2 % cash discount for payment within 10 days. Required: a) Calculate the amount Ms. Raheema will have to pay after the 10 days of discount b) Calculate the amount Ms. Raheema will pay during the discount periodLamplight Plus sells lamps to consumers. The company contracts with a supplier who provides them with lamp fixtures. There is an agreement that Lamplight Plus is not required to provide cash payment immediately and instead will provide payment within thirty days of the invoice date. Additional information: • Lamplight purchases 25 light fixtures for $30 each on August 1, invoice date August 1, with no discount terms. Lamplight returns 15 light fixtures (receiving a credit amount for the total purchase price per fixture of $30 each) on August 3. • Lamplight purchases an additional 15 light fixtures for $10 each on August 19, invoice date August 19, with no discount terms. • Lamplight pays $110 toward its account on August 22. What amount does Lamplight Plus still owe to the supplier on August 30? What account is used to recognize this outstanding amount?Sage Company sells goods to Danone Inc. by accepting a note receivable on January 2, 2020. The goods have a sales price of $649,600 (cost of $550,000). The terms are net 30. If Danone pays within 5 days, however, it receives a cash discount of $9,600. Past history indicates that the cash discount will be taken. On January 28, 2020, Danone makes payment to Sage for the full sales price. (a) Prepare the journal entry(ies) to record the sale and related cost of goods sold for Sage Company on January 2, 2020, and the payment on January 28, 2020. Assume that Sage Company records the January 2, 2020, transaction using the net method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit (To record sales) (To record cost of goods sold)
- Given: The 456 Company purchased office supplies from A-One Supplies worth P80,000 on April 04, 2021. A - One Supplies gave the buyer trade discount of 5% and 2%. The buyer and supplier agreed with the term of 5/15, n/30. Required. How much will be paid by 456 Company on April 20?Given: The 456 Company purchased office supplies from A-One Supplies worth P300,000 on Sep 29, 2021. A - One Supplies gave the buyer trade discount of 12% and 8%. The buyer and supplier agreed with the term of 5/15, n/60. Required: How much is the cash discount if paid within the discount period?Riverbed Company sells goods to Danone Inc. by accepting a note receivable on January 2, 2020. The goods have a sales price of $659,900 (cost of $460,000). The terms are net 30. If Danone pays within 5 days, however, it receives a cash discount of $9,900. Past history indicates that the cash discount will be taken. On January 28, 2020, Danone makes payment to Riverbed for the full sales price. Prepare the journal entry(ies) to record the sale and related cost of goods sold for Riverbed Company on January 2, 2020, and the payment on January 28, 2020. Assume that Riverbed Company records the January 2, 2020, transaction using the net method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit choose a transaction date…
- Walters widgets received a bill for merchandise with a net price of $7170.26 . Walter is offered a 2% cash discount if he pays within 10 days of the invoice date. He doesn't have enough to pay the full amount so he makes a partial payment of $4000 on day 9. Find the amount credited for the partial payment and the outstanding balanceRiverbed Company sells goods to Danone Inc. by accepting a note receivable on January 2, 2020. The goods have a sales price of $630,700 (cost of $500,000). The terms are net 30. If Danone pays within 5 days, however, it receives a cash discount of $10,700. Past history indicates that the cash discount will be taken. On January 28, 2020, Danone makes payment to Riverbed for the full sales price. (a)Prepare the journal entry(ies) to record the sale and related cost of goods sold for Riverbed Company on January 2, 2020, and the payment on January 28, 2020. Assume that Riverbed Company records the January 2, 2020, transaction using the net method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Choose date Jan 2 or Jan 28…Mr Hamed having furniture manufacturing business in Ibri. Always he purchases wood (Raw materials) from Al Buraimi wood suppliers.On 1st May 2021 Mr Hamed purchased wood for OMR3000 on credit and paid OMR 1000 immediately. For the remaining amount Mr Hamed gave written promise to the supplier to pay that amount on 31st December 2021. The written promise given by Mr Hamed to the supplier is known as: O a. Short-term notes receivables O b. Short term notes payables Oc. Receipt Od. Invoice
