A co.npany purchased merchandise on credit with terms 3/15, n/30. How much will be debited to Accounts Payable if the company pays SR485 cash on this account within ten days? a. 485 b. CAccounts Payable should be credited in this situation be18cea3 C. 470.45 d. 500 95abe18ce33 e18 95abe18ce 18ce33 95abe18ce33 95abe18ce33 abe18ce33 95abersce33

BUS 038 : Business Computatns4. You buy goods on an invoice dated October 28, with terms of 2/20, n/45. What is the last day of the discount period?

Merchandise subject to terms 4/15, n/28, FOB shipping point, is sold on account to a customer for $35,000. What is the amount of the cash discount allowed in case the customer pays within the discount period? Select one: a. $1,400 b. $9,800 c. $1,500 d. $5,250

1. A buyer received an invoice for P6.000 dated June 10. If the terms åré 2/10, n/30 and the buyer paid the invoice within the discount period, what amount will the seller receive? c. P4,800 а. Р6,000 b. P5,880. d. P 120 2. The purchases discount account is a contra account to a. accounts payable. b. purchases. C. sales. d. sales discount. 3. When a seller of merchandise allowed a customer a reduction from the original price for defective goods, the seller will issue to the customer a a. credit memorandum. b. debit memorandum. c. official receipt. d. sales invoice. 4. When the seller advances the transportation costs and the terms of sale are FOB shipping point, the seller records the payment of the transportation costs by debiting a. accounts payable. b. accounts receivable. C. sales. d. transportation in. 5. The account that appears in the chart of accounts for a merchandising entity but not for.a service entity is a. accounts receivable. b. accumulated depreciation. c. advertising…

BUS 038 : Business Computatns10. You purchase goods on an invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last day of the discount period, and (b) the last day of the credit period.

You are to enter up the sales, purchases and the returns inwards and returns outwards journals/day books from the following details, then the total of the journals are then to be transferred to the relevant accounts in the general ledger.                                                                    2018 May     “ “ “ “ “ “ “ “ “ “ “  1  3  7  9 11 14 17 20 24 28 31 Credit sales: T Thompson £56; L Rodriquez £148; K Barton £145 Credit purchases: P Potter £144; H Harris £25; B Spencer £76 Credit sales: K Kelly £89; N Mendes £78; N Lee £257 Credit Purchases: B Perkins £24; H Harris £58; H Miles £123 Goods returned by us to: P Potter £12; B Spencer £22 Goods returned to us by: T Thompson £5; K Barton £11;K Kelly £14 Credit purchases: H Harris £54; B Perkins £65: L Nixon £75. Goods returned by us to B Spencer £14 Credit sales: K Mohammed £57; K Kelly £65; O Green £112 Goods returned to us by N Mendes £24 Credit sales: N Lee £55

How do I record this transaction; Issues credit memo to Targhee Co., $27500, terms FOB shipping point, 1/10, n/30?

NO. : Date : | The following was the trial balance extract from ABC Tradina as at 31 March 2019 Particulars Purchases and sales Inventory on IAprl 2018 Capital Bank overdraft Cash Discount allowad and received Return inwards and outwards Carriage outwards Office expenses Fixturos and fittings Delivery van Account receivables and account payab les Rent and insurance Credit CRm) 41,000 Debit CRM) 22/860 5, 100 8,170 4,300 140 1.440 790 2/180 930 570 450 1/210 2,000 IL, 900 1.790 6,720 Drawings Wages and Sal aries Total 2,850 8,980 611690 61.690 Additional information as at 31 March 2019 : ca) Inventory on 31 March 2019 was (b) Wages and salaries accrued as at 31 March 2019 was Rm210 ; Outstanding office expen ses was RM 30 Cc) Rent and insurance prepaid was km 150 RM 4250 Raquired: (1) Preapare the Statement of Piofit or Loss and Other Comprehensive Income for the year ended 31 March 2019 |(ii) Preapare statement of Financial Position as at 31 March 2019 .

Purchases Transactions Xanadu Company purchased merchandise on account from Springhill Company for $7,900, terms 2/10, n/30. Xanadu returned merchandise with an invoice amount of $2,000 and received full credit. a.  If Xanadu Company pays the invoice within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar.$fill in the blank 1 b.  What account is debited by Xanadu Company to record the return?

Please help to answer below question:   Q1: Prepare journal entries to record the following transactions entered into by the Castagno Company:    2022​ Nov.​1​Sold merchandise on account to Mercer, Inc., for $18,000, terms 2/10, n/30.   Nov.​5​Mercer, Inc., returned merchandise worth $1,000.   Nov.​9​Received payment in full from Mercer, Inc. br,