After the amount due on a sale of $28,000, terms 2/10, n/eom, is received from a customer within the discount period, the seller consents to the return of the entire shipment for a cash refund. The cost of the merchandise returned is $16,800. a. What is the amount of the refund owed to the customer? b. Journalize the entries made by the seller to record the return and the refund. If an amount box does not require an entry, leave it blank. (a) (b)

A buyer receives merchandise on September 7th that is invoiced for $3,250. The date on the invoice is August 2nd and the terms are 3/15 ROG. How much is due if the buyer pays the bill on September 24th? Answer: A buyer receives the bill for $2,500 of merchandise from a vendor. The date on the invoice is January 15th and the terms are net. How much is due to the vendor and what is the due date? Select one: O a. $2,450 on January 30th b. $2,500 on January 30th c. $2,450 on February 14th d. $2,500 on February 14th Merchandise received on March 2nd with a total quoted cost of $4,000 and transportation costs of $200 was billed on an invoice dated February 6th. The terms on the invoice were 2/10 ROG, FOB Destination, Charges Reversed. How much was due to the vendor if the buyer paid on February 26th? Answer: A buyer receives merchandise on April 2nd that is invoiced for $8,200. The date on the invoice is April 27th and the terms are 2/10 EOM. What is due if the buyer pays by May 15th? Select…

Determine the amount to be paid by the buyer for 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 Transportation Paid by Seller Transportation Terms Returns and Allowances (a) $7,100 $348 FOB Shipping Point, 1/10, net 30 $700 (b) $3,800 $124 FOB Destination, 2/10, net 45 $800 a.   $                            b.   $

Read through the information below for selected transactions during the month of December, 2021 and prepare the required jounal entry to record the transaction.  Post each of the entries below to the general ledger T-accounts attached .   Sold Merchandise for $5,000 to Lee Corp on account on December 9.  Cost of the merchandise was $3,390 and the terms of the sale were 1/15, n/30.