a. b. Merchandise $10,700 $13,300 a. $ b. $ Freight Paid by Seller $376 $58 Freight Terms FOB Shipping Point, 1/10, net 30 FOB Destination, 2/10, net 45 Returns and Allowances $1,100 $2,900
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- Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is sold on account for 300 plus 3% sales tax, with 2/10, n/30 cash discount terms. (b) Part of the merchandise sold in transaction (a) for 70 plus sales tax is returned for credit. (c) The balance on account for the merchandise sold in transaction (a) is paid in cash within the discount period.Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. Merchandise Freight Paidby Seller Freight Terms Returns andAllowances a. $13,200 $215 FOB Shipping Point, 1/10, net 30 $1,300 b. $10,400 $56 FOB Destination, 2/10, net 45 $2,300Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period: Customer Freight Paid by Returns Merchandise Seller and Allowances $21,000 FOB destination, n/30 $1,100 а. b. 9,800 $400 FOB shipping point, 1/10, n/30 1,200 C. 5,000 FOB shipping point, 1/10, n/30 500 d. 3,100 100 FOB shipping point, 2/10, n/30 400 е. 2,400 FOB destination, 2/10, n/30 a. $ 19,900 b. $ C. $ d. $ е.
- Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. Freight Paid Merchandise by Seller Freight Terms Returns and Allowances a. $4,500 b. $7,650 $140 $200 FOB Shipping Point, 2/10, net 30 $1,200 FOB Destination, 1/10, net 45 $450 a. $ b. $reight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. Merchandise FreightPaid by Seller Freight Terms Returns andAllowances a. $90,000 $1,000 FOB shipping point, 1/10, n/30 $15,000 b. 110,000 1,575 FOB destination, 2/10, n/30 8,500Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. Merchandise Freight Paid by Seller Returns and Allowances a. $17,000 - FOB destination, n/30 $900 b. 10,300 $400 FOB shipping point, 1/10, n/30 1,200 c. 6,300 - FOB shipping point, 1/10, n/30 600 d. 2,500 100 FOB shipping point, 2/10, n/30 400 e. 1,700 - FOB destination, 2/10, n/30 - a. $ b. $ c. $ d. $ e. $
- Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period: Customer Freight Paid by Returns Merchandise Seller and Allowances a. $14,700 FOB destination, n/30 $700 b. 9,700 $400 FOB shipping point, 2/10, n/30 200 с. 7,600 FOB shipping point, 2/10, n/30 700 d. 2,800 100 FOB shipping point, 1/10, n/30 400 е. 3,000 FOB destination, 1/10, n/30Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period: Merchandise Freight Paid by Seller Customer Returns and Allowances a. $14,000 - FOB destination, n/30 $3,250 b. 21,200 $380 FOB shipping point, 2/10, n/30 4,000 c. 16,400 - FOB shipping point, 1/10, n/30 900 d. 7,500 250 FOB shipping point, 2/10, n/30 1,200 e. 28,800 - FOB destination, 1/10, n/30 -Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period: Merchandise Freight Paid by Seller Customer Returns and Allowances a. $14,000 - FOB destination, n/30 $3,250 b. 21,200 $380 FOB shipping point, 2/10, n/30 4,000 c. 16,400 - FOB shipping point, 1/10, n/30 900 d. 7,500 250 FOB shipping point, 2/10, n/30 1,200 e. 28,800 - FOB destination, 1/10, n/30 - a. $fill in the blank 1 b. $fill in the blank 2 c. $fill in the blank 3 d. $fill in the blank 4 e. $fill in the blank 5
- Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period: Merchandise Freight Paid by Seller Customer Returnsand Allowances a. $17,200 - FOB destination, n/30 $900 b. 11,400 $500 FOB shipping point, 2/10, n/30 1,400 c. 8,100 - FOB shipping point, 1/10, n/30 700 d. 3,700 100 FOB shipping point, 1/10, n/30 500 e. 2,500 - FOB destination, 1/10, n/30 - a. $ b. $ c. $ d. $ e. $Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period: Merchandise Freight Paid by Seller Customer Returnsand Allowances a. $19,600 - FOB destination, n/30 $1,000 b. 12,200 $500 FOB shipping point, 2/10, n/30 1,500 c. 6,700 - FOB shipping point, 1/10, n/30 600 d. 2,600 100 FOB shipping point, 2/10, n/30 400 e. 1,500 - FOB destination, 1/10, n/30
