Accounting A. Jack has the following purchases for the month of may 2012 May 1 From D. Pope 4 DVDs at R6Q, each, 3 units R240 each for May mini-hi-fi less 20% trade discount. 3 from Floyd: 2 washing machines at R280 each, R80 each 2 dish washers at R200 each less 20% trade discount. 5 vacuum cleaners at May 15 from B. Sonkey: 1 Hi-Fi units at 2600 2 washing machines at 320 each less 25% trade discount May 20 From J. Wilson 6 CD/Radios at R45 each less 3% trade discount May 30 from R. Freer: 4 dishwashers at R240 each Required less 20% trade discount 1. Enter up the purchases day book for the month 2. Post the transactions to the supplier's account 3. Transfer the transactions to the purchases account.

A discount store purchased some special product at a list price of $1,400. If the broker gives a 10.25% trade discount, what is the amount of the trade discount? $143.50 $840.00     $1,256.50 $1,484.00

Saved Help The following transactions were selected from among those completed by Hailey Retailers in the current year: Nov. 20 Sold two items of merchandise to Customer B, who charged the $570 (total) sales price on her Visa credit card. Visa charges Hailey a 2 percent credit card fee. 25 Sold 14 items of merchandise to Customer C at an invoice price of $3,800 (total); terms 2/10, n/30. 28 Sold 12 identical items of merchandise to Customer D at an invoice price of $7,320 (total); terms 2/10, n/30. 30 Customer D returned one of the items purchased on the 28th; the item was defective and credit was given to the customer. Dec. 06 Customer D paid the account balance in full. 30 Customer C paid in full for the invoice of November 25. Required: 1. Prepare the appropriate journal entry for each of these transactions. Do not record cost of goods sold. 2. Compute Net Sales. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute Net Sales. (Round your…

Denjar

PB7.  LO 6.4Review the following sales transactions for April Anglers and record any required journal entries. Oct. 4 April Anglers made a cash sale of 40 fishing poles to customer Billie Dyer at a price of $55 per pole. The cost to April is $33 per pole. Oct. 5 April Anglers sells 24 fishing poles to customer Billie Dyer at a price of $52 per pole on credit. The cost to April is $30 per pole. Terms of the sale are 2/10, n/30, invoice date October 5. Oct. 12 Billie returns seven of the fishing poles from the October 4 purchase to April Anglers for a full refund. April returns these poles to their inventory at the original cost per pole. Billie also discovers that 6 of the fishing poles from the October 5 purchase are the wrong color but keeps them since April granted an allowance of $18 per fishing pole. Oct. 24 April pays their account in full from the October 5 purchase, less any returns, allowances, and/or discounts.

2. Review the following transactions for Birdy Birdhouses and record any required journal entries. Sep. 6 Sep. 8 Birdy Birdhouses purchases 55 birdhouses at $14 each with cash. Birdy Birdhouses purchases 80 birdhouses at $19 each on credit. Terms of the purchase are 4/10, n/30, invoice date September 8. Birdy discovers 12 of the birdhouses are damaged from the Sep. 6 purchase and returns them to the supplier for a full refund. Birdy also discovers that 8 of the birdhouses from the Sep. 8 purchase are painted the wrong color but keeps them since the supplier granted an allowance of $20 per birdhouse. Birdy pays their account in full from the September 8 purchase, less any returns, allowances, and/or discounts. Sep. 10 Sep. 18

subject; account

Backyard World buys plastic pools from a supplier with an invoice amount of $15,500. The terms of the sale are 5/10, n/30. If the retailer sends a partial payment of $8,300 on the discount date, what is the net amount still due? $6,763.16 $6,840.00     $7,200.00 $8,736.84

Spring Appliances received an invoice dated August 18 with terms 2/10 E.O.M. for the items listed below. 6 refrigerators at $1030 each less 30% and 5% 3 dishwashers at $784 each less 15 and one third %, 12.2%, and 3% (a) What is the last day for taking the cash discount? (b) What is the amount due if the invoice is paid on the last day for taking the discount? (c) What is the amount of the cash discount if a partial payment is made such that a balance of $1700 remains outstanding on the invoice?

PB6.  LO 6.3Review the following transactions for Dish Mart and record any required journal entries. Note that all purchase transactions are with the same supplier. Nov. 5 Dish Mart purchases 45 sets of cutlery for $100 per set with cash. Nov. 9 Dish Mart purchases 50 sets of cutlery for $120 per set on credit. Terms of the purchase are 5/15, n/60, invoice date November 9. Nov. 13 Dish Mart discovers 15 of the cutlery sets are damaged from the November 9 purchase and returns them to the supplier for a full refund. Nov. 14 Dish Mart purchases 30 sets of cutlery for $130 per set on credit. Terms of the purchase are 5/10, n/60, invoice date November 14. Nov. 15 Dish Mart discovers that 10 of the cutlery sets from the November 14 purchase and 20 of the cutlery sets from the November 5 purchase are missing a few spoons but keeps them since the supplier granted an allowance of $30 per set for the November 14 cutlery sets and $35 per set for the November 5…