company A issues an invoice upon selling its product to company b Below is the information extracted from the invoice price : $ 100 quantity: 50 Term: n/3; 2/10 date : 2022-oct-10 find the discount amount? and discount period?
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company A issues an invoice upon selling its product to company b
Below is the information extracted from the invoice
price : $ 100
quantity: 50
Term: n/3; 2/10
date : 2022-oct-10
find the discount amount? and discount period?
Step by step
Solved in 3 steps
- The journal entry to record the receipt of a payment from customer within the discount period on a sale of $2325 with terms of 3/10, n/30 will include a credit to O a. Sales discounts for $70 O b. Accounts receivable for $2325 O c. Sales Revenue for $2325 O d. Cash for $2255Solve for the amount of discount and amount due.Invoice amt: $533.75Invoice date: Mar 7Terms: 2/10 - 20xGoods rec'd: Mar 9Date paid: Apr 6Merchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $19,500. What is the amount of sales discount allowable? O $134 O S390 O s189 Previous 6:31 PM 38) 3/22/2021
- BUS 038 : Business Computatns4. 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?12. Solve for the amount of discount and amount due. Invoice amt: $ 314.88 Invoice date: Sept 17 Terms: 4/ 11 EOM Goods rec'd: Sept 20 Date paid: Oct 9need help finding the net payment and credit towards account still due invoice amount= $538.42 date of invoice= April 23 Date of payment= May 14 credit terms= 3/10,1/15, n/30 E.O.M Net price= ?
- How much is the remaining balance on due date?Invoice Date: 11/5/14Date of goods’ arrival: 11/8/14List Price: P368,900Shipping fee: P3,240 (separate invoice)Terms of Payment: FOB Destination 8% Trade discount6/10,3/20, n/30Partial Payments: P90,000 on Nov 8, 2014P130,000 on Nov 14, 2014P40,000 on Nov 21, 2014P50,000 on Nov 25, 20147. Complete the table. Invoice Terms Last Date Last Date Date Net Price Complement Cash Price Date to Take to Pay Paid of Discount Invoice cash-discount rate Аpril 18 April 6 5/15, n/30 $109.82The entry to record the receipt of payment within the discount period on a sale of $4000 with terms of 2/10, n/30 will include a credit to O Accounts Receivable for $4000. O Sales Discounts for $80. O Cash for $3920. O Sales Revenue for $4000.
- 1. A buyer received an invoice for P6.000 dated June 10. If the terms åré 2/10, n/30 and the buyer paid the invoice within the discount period, what amount will the seller receive? c. P4,800 а. Р6,000 b. P5,880. d. P 120 2. The purchases discount account is a contra account to a. accounts payable. b. purchases. C. sales. d. sales discount. 3. When a seller of merchandise allowed a customer a reduction from the original price for defective goods, the seller will issue to the customer a a. credit memorandum. b. debit memorandum. c. official receipt. d. sales invoice. 4. When the seller advances the transportation costs and the terms of sale are FOB shipping point, the seller records the payment of the transportation costs by debiting a. accounts payable. b. accounts receivable. C. sales. d. transportation in. 5. The account that appears in the chart of accounts for a merchandising entity but not for.a service entity is a. accounts receivable. b. accumulated depreciation. c. advertising…Merchandise subject to terms 3/10, n/25, FOB shipping point, is sold on account to a customer for $20,000. What is the amount of the sales discount allowed in case the customer pays within the discount period? Select one: a. $600 b. $460 c. $150 d. $260The entry to record a sale of P7,500 with terms of 2/10, n/30 would include a. Debit to sales for P7,350 b. Debit to sales Discount for P150 c. Credit to Accounts Receivable for P7,500 d. Credit to sales for P7,500