Coces, a furniture shop owner, buys a new set of cabinet worth $9,850. He receives an invoice dated 26 October 2019 with trade discounts of 8 percent, 4 percent and is offered cash discount terms 3/15, 2/30, n/60. (ii) Determine the total amount due if Coces pays the invoice on 17 November 2019
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Question 3
Coces, a furniture shop owner, buys a new set of cabinet worth $9,850. He receives an invoice dated 26 October 2019 with trade discounts of 8 percent, 4 percent and is offered cash discount terms 3/15, 2/30, n/60.
(ii) Determine the total amount due if Coces pays the invoice on 17 November 2019.
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- Question 12 Krystal recieves an invoice from Home Hardware dated November 2nd, 2020 for $510 with terms 6/10, 2/17, n/30. If Krystal pays the invoice in full on November 22nd, 2020, a. How many days were there between the date of the invoice, and when the invoice was paid? b. How much is the amount of the discount? c. How much was paid? Number of days = Amount of Discount = $ Payment = $ > Next Question (rounded to the nearest cent) (rounded to the nearest cent)Fatin buys a new café furniture worth RM 9,200. She receives an invoice dated 19 April 2021 with trade discounts of 8% and 2 %. She is offered cash discount terms of, 15/10, n/30. Determine a) the single discount equivalent of the trade discount given. b) the net price after the trade discount. c) the last day to receive the 15% cash discount.Fatin buys a new café furniture worth RM 9,200. She receives an invoice dated 19 April 2021 with trade discounts of 8% and 2 %. She is offered cash discount terms of, 15/10, n/30. Determine a) the amount she needs to pay on 28 April 2021 b)the amount outstanding if she pays RM 4000 on 25 April 2021.
- 2. Ms. Fatima sold to Ms. Ruqaiya OMR 60,000 worth of goods on the 15th of April 2022 by accepting a 150 days, 6% interest bearing note. Both Ms. Fatima & Ms. Ruqaiya need your help in understanding how and in what way the notes receivable and the payables should be treated. Provide them with the required help by showing how the transactions would be treated in the books of both parties in the following situations: a) When the notes are accepted. b) On the maturity date, the note is honored. c) Suppose Ms. Fathima prepared final accounts on the 25th of July 2022 d) Following the above situation, the bill is met on maturity. e) The note was dishonored on the maturity date by Ms. Ruqaiya.Question 1 Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold this bank bill on 24th May 2020 at 3.98% p.a. simple interest rate. a) What is the implied per annual simple interest rate for her purchasing (expressed as a percentage and rounded to three decimal places)? Select one: a. 0.076 b. 0.032 c. 0.031 d. 0.088 Question 2 Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold this bank bill on 24th May 2020 at 3.98% p.a. simple interest rate. b) What is her selling price (rounded to four decimal places)? Select one: a. 98740.2903 b. 98634.0935 c. 98846.7161 d. 99317.7280 Question 3 Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold this bank bill on 24th May 2020 at 3.98% p.a. simple interest…Arvan Patel is a customer of Banks Hardware Store. For Mr. Patels latest purchase on January 1, 2018, Banks Hardware issues a note with a principal amount of $480,000, 13% annual interest rate, and a 24-month maturity date on December 31, 2019. Record the journal entries for Banks Hardware Store for the following transactions. A. Note issuance B. Subsequent interest entry on December 31, 2018 C. Honored note entry at maturity on December 31, 2019.
- Soledad receives a bill for P18,000 dated July 7 with terms 6/15, 4/30, n/60. What cash discount will she received if she pays (a) in 15 days; (b) on the 25th day; and (c) on the 40th day? Round to the nearest centavoBarry has paid the following insurance bills in the year ended 31 December 2020: £3,000 for the 3 months ended 28 February 2020 £2,500 for the 3 months ended 31 May 2020 £3,500 for the 3 months ended 31 August 2020 £3,000 for the 3 months ended 30 November 2020 In March 2020 he received a bill for £3,000 for the 3 months ended 28 February 2021 What is the charge to P/L for rent for the year ended 31 December 2020? a) £10,500 b) £12,500 c) £14,000 d) £12,000On December 31, 2019, Don accepted a note receivable from Mike’s Builders for $1,000 as a good faith promise to pay for electrical engineering services rendered that week. The terms of the note are: Face $1,000, Interest 7%, Due in 180 Days. Prepare Don’s journal entry for December 31, 2019. Pay close attention to what I am asking for.
- Jake owes $3,990 on a credit card with an APR of 13.9 percent. How much more will it cost him to pay off this balance if he makes monthly payments of $50 rather than $70? Assume he does not charge any further purchases. O $4,647 O $2,811 O $3.648 O $2,018 O $3,545Amy On 15 May 2020, she discounts the note at 8%. If the proceeds received amounted to RM15392.54. iv. The face value of the note v. The amount of interest Amy receives.Barbie and Ken agrees to lend Dora money in exchange of monthly payments of P= P5,000 begin- ning Mar. 14, 2023 until Feb.14, 2024. Money is worth 7.2% payable monthly. P P + + 12/14 1/14 2/14 3/14 4/14 P P P + 7/14 8/14 9/14 P P P 12/14 1/14 2/14 3/14 5/14 (1) How much is did Dora borrowed today? (2) Dora failed to settle all monthly dues scheduled but Barney's collection agency who represents Ken and Barbie waives penalties due to payment default and allowed her to settle all amount dues plus interest on May 14, 2024. How much is the total amount due that she should settle with Barney? (3) Dora wishes to pay Ken and Barbie in one lump sum amount on August 14, 2023. How much in total is she allowed pay on that day to discharge the entire loan? (4) Dora decided to continue the payment thru Sept. 14, 2023. How much is her remaining payments due after this 9/14 payment? (5) How much must Dora pay instead of P5,000 monthly, if she wishes to borrow P60,000 from Ken and Barbie on Dec. 14,…
