BUS 038 : Business Computatns 4. 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?

Q: The invoice of a Toy company amounts to 800 OMR was dated February 7, and offered terms 2/10, n/30…

A: Introduction: ROG: ROG stands for Receipt of Goods. Due date is to be calculated from the date of…

Q: Use the following sales journal to record the transactions. All credit sales are terms of n/30. (If…

A: Meaning of Sales Journal  The sales journal is used to record all of the company sales on credit.…

Q: company A issues an invoice upon selling its product to company b Below is the information extracted…

A: PURCHASE DISCOUNT Purchase Discount is an offer from the Supplier to the Purchaser, to reduce the…

Q: The invoice date for a bill is April 14 with the terms 2/15 ROG. If the goods were received on June…

A: The Receipt-of-goods (ROG) is the method of payment, wherein the date of commencement is the day on…

Q: Using the EOM, ROG, and Extra dating methods, calculate the discount date and the net date for the…

A: Here's what each part of the term means: 2/10: This means that the buyer can receive a 2% discount…

Q: The purchasing document should also specify when payment is due. This is usually expressed as a net…

A: One of the important part of signing the contract or preparing invoice is to mention payment terms.…

Q: 2) Complete the table. (Lesson 5) Invoice Terms Last Date to Take Discount Last Date Date Net Price…

A: Trade discount is the discount offered by a seller to the buyer upon the fulfilment of certain…

Q: When a company makes a sale and accepts a credit card payment from a customer, the company: Multiple…

A: Increase in debits should be debited and increase in expenses should be debited. Increase in…

Q: You purchase goods on an invoice dated February 5 of a leap year, with terms of 5/10-90X. Calculate…

A: Discount: Price reductions or the sale of anything at a lower price than the item's regular retail…

Q: Complete the following (If more than one discount, assume date of last discount) Note: Assuming…

A: Accounting of Sales Discount -The financial documentation of a sales price reduction resulting from…

Q: Complete the following  Invoice Date goods are received terms last day of discount period final day…

A: 3/10 EOM meaning there is a discount of 3% if the due is paid within 10 days, which is July 6, from…

Q: The entry to record a payment on a $690 account within the 2​% discount period would include​ a:…

A: Cash discount is recorded in cash account. Any other account will not be deducted by this amount.

Q: You are given the following account summary: Time Balance Deposit Withdrawal 1,000 1,020 1.110…

A: Following is the answer to the given question

Q: 2) Complete the table. (Lesson 5) Invoice Terms Last Date Last Date Date Paid Net Price Cash Cash…

A: Term 5/10 EOM Denotes that 5% cash discount can be availed if payment made within 10 days, else…

Q: Terms Last Date to Take Discount Last Date Date Paid Net Price to Pay Invoice Cash Price Invoice…

A: 3/10 , n/30 Implies 3% cash discount if payment made within 10 days, else payment can be made within…

Q: A retailer buys merchandise from a supplier with an invoice amount of $12,400. The terms of the sale…

A: DISCOUNT TERMThe 5/20 net 30 calculation is a way of providing cash discounts on purchases. It means…

Q: An invoice of RO500 with the terms 2/10, n/30 ROG is dated on June 10. The goods are received on…

A: 2/10,n/30 means 2% cash discount can be availed if payment is paid within 10 days of invoice. n/30…

Q: Merchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for…

A: Given: Payments terms of 2/10, n/30, means that discount of 2% is valid for 10 days from the date of…

Q: 6. When would you use the Cheque window in QuickBooks for inventory? (1 Point) When you have…

A: The objective of the question is to understand the specific scenarios in which the Cheque window in…

Q: A sales invoice include the following information: merchandise price, $12,000: terms 1/10, n/oem;FOB…

A:

Q: EOM Jones Company received an invoice for $1,450 dated August 28, terms 10 (A) What is the last date…

A: The company can make sales on account and also makes purchases on account, The companies make sales…

Q: On June 5, Jo's Market sold $1,000 of goods on credit with terms of 2/10,n/30. The required journal…

A: The terms "2/10, n/30" indicate that the customer can take a 2% discount on the invoice amount if…

Q: For questions 25-27, your answer will be add on bank side, subtract on bank side, 21. A company…

A: Step 1:Sales discount is given by saler at the time of sale to get money from customer as soon as…

Q: Spring Appliances received an invoice dated February 15 with terms 3/10 E.O.M. for the items listed…

A: The following basic information as follows under:-Spring Appliances received an invoice dated…

Q: Complete the following: Invoice Jan. 26 Date goods are received Terms 4/10 EOM Last day of discount…

A: The time between the final day that the discount terms are still in effect and the date when the…

Q: 6. Your company paid rent of $1,000 for the month with check number 1245. Which journal would the…

A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you…

Q: 10. You purchase goods on an invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last…

A: Since you have posted a question with multiple questions, we will solve the first one for you. If…

Q: The buyer received an invoice from the seller for merchandise with list price of RO 7500 and credit…

A: Understanding the payment terms: The payment terms of 2/10 and n/30 means the discount of 2% is…

Q: Using the ordinary dating method, calculate the discount date and net date for the following…

A: DATE OF INVOICE : APRIL 23    TERM OF SALE : 3/15 , n/60 MEANS THAT 3% CASH DISCOUNT IS GIVEN IF…

Q: 7. Complete the table. Terms Last Date to Take Discount Net Price Complement Cash Price of Invoice…

A: The invoice is made for the due payment from the Debtor. It contains various terms to pay the due…

Q: Suppose that your credit card activity for December looked like this: Date Activity December 5 $234…

A: The average daily balance is the estimation of the amount on which the interest has been calculated…

Q: Suppose a firm makes a purchase and receives the shipment on February 1.The terms of trade as stated…

A: A firm always involves credit purchases in the business because it collects cash from the customers…

Q: The entry to record a sale of P7,500 with terms of 2/10, n/30 would include a. Debit to sales for…

A: Note: 2/10, n/30: Here, 2 represents the discount rate if payment is made within ten days. And if…

Q: The entry to record a sale of P1,800 with terms of 2/10, n/30 will include a   a. debit to Sales…

A: Journal entries are used by the companies, firms, NPO, etc. to keep a record of the transactions…

Q: 12. Solve for the amount of discount and amount due. Invoice amt: $ 314.88 Invoice date: Sept 17…

A: Customers are rewarded with cash savings if customers pay their bills within a particular time…

Q: A sales invoice included the following information: merchandise price, P4,100; transportation, P320;…

A: • FOB  ( Destination)shipping point : Its the responsibility of buyer to pay the shipping charges .…