Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $). Stock # Description Unit Price Amount 4811V Stereo Receivers 50 x $293.50 $ 14675.00 511CX Blu-Ray Players 25 x $136.28 $ 3407.00 6146M Home Theater Systems 40 x $656.12 $ 2644.80 1031A LCD TVs 20 x $594.00 $ 11880.00 Merchandise Total $ Insurance + Shipping $ Invoice Total $

Question

As part of the employment interview for an accounting job at Sound Design, you have been asked to answer the questions below, based on an invoice from one of Sound Design's vendors, Target Electronic Wholesalers.

Invoice

Stock #	Description	Unit Price	Amount
4811V	Stereo Receivers	50 ✕ $293.50 =	_______________________
511CX	Blu-Ray Players	25 ✕ $136.28 =	_______________________
6146M	Home Theater Systems	40 ✕ $656.12 =	_______________________
1031A	LCD TVs	20 ✕ $594.00 =	_______________________

Merchandise Total	_______________________
Insurance + Shipping	$1,250.00
Invoice Total	_______________________

An invoice. The top of the invoice is divided into several distinct sections.

The first section is located in the top left of the invoice, is unlabeled, and contains an image of a target with an arrow in the center of the target.
The second section is located in the top center of the invoice, is unlabeled, and contains "Target Electronic Wholesalers 1979 N.E. 123 Street Jacksonville, FL 32204."
The third section is located below the first, is labeled "Sold To:," and contains "Sound Design 480 McDowell Rd. Phoenix, AZ 85008."
The fourth section is located to the right of the third, is unlabeled, and contains "Invoice Date June 28, 20XX" and "Terms of Sale 3/15, n/30 ROG."

The bottom of the invoice contains the itemization of the invoice. Information regarding this itemization can be found in the adjacent table.

Table

(a)

Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $).

Stock #	Description	Unit Price	Amount
4811V	Stereo Receivers	50 x $293.50	$ 14675.00
511CX	Blu-Ray Players	25 x $136.28	$ 3407.00
6146M	Home Theater Systems	40 x $656.12	$ 2644.80
1031A	LCD TVs	20 x $594.00	$ 11880.00
Merchandise Total	$
Insurance + Shipping	$
Invoice Total	$

(b)

What are the discount date and the net date if the shipment arrived on July 14?

Discount Date ---Select--- January February March April May June July August September October November December Net Date ---Select--- January February March April May June July August September October November December

(c)

While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)?

Returned merchandise$ Revised merchandise total$

(d)

What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)

Cash discount$ Net amount due$

(e)

If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)

$

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Follow-up Question

Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $).

Stock #	Description	Unit Price	Amount
4811V	Stereo Receivers	50 x $296.50	$
511CX	Blu-Ray Players	25 x $131.28	$
6146M	Home Theater Systems	40 x $656.12	$
1031A	LCD TVs	20 x $592.00	$
Merchandise Total	$ 56,191.80
Insurance + Shipping	$ 1,250
Invoice Total	$ 57,441.80

(b)

What are the discount date and the net date if the shipment arrived on July 13?

Discount Date Net Date

(c)

While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)?

Returned merchandise$ Revised merchandise total$

(d)

What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)

Cash discount$ Net amount due$

(e)

If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)

$

Solution

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Answer 23

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Follow-up Question

Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $).

Stock #	Description	Unit Price	Amount
4811V	Stereo Receivers	50 x $296.50	$
511CX	Blu-Ray Players	25 x $131.28	$
6146M	Home Theater Systems	40 x $656.12	$
1031A	LCD TVs	20 x $592.00	$
Merchandise Total	$ 56,191.80
Insurance + Shipping	$ 1,250
Invoice Total	$ 57,441.80

(b)

What are the discount date and the net date if the shipment arrived on July 13?

Discount Date Net Date

(c)

While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)?

Returned merchandise$ Revised merchandise total$

(d)

What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)

Cash discount$ Net amount due$

(e)

If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)

$

Solution

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Answer 24

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Answer 25

Follow-up Question

Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $).

Stock #	Description	Unit Price	Amount
4811V	Stereo Receivers	50 x $296.50	$
511CX	Blu-Ray Players	25 x $131.28	$
6146M	Home Theater Systems	40 x $656.12	$
1031A	LCD TVs	20 x $592.00	$
Merchandise Total	$ 56,191.80
Insurance + Shipping	$ 1,250
Invoice Total	$ 57,441.80

(b)

What are the discount date and the net date if the shipment arrived on July 13?

Discount Date Net Date

(c)

While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)?

Returned merchandise$ Revised merchandise total$

(d)

What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)

Cash discount$ Net amount due$

(e)

If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)

$

Solution

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Answer 26

Follow-up Question

Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $).

Stock #	Description	Unit Price	Amount
4811V	Stereo Receivers	50 x $296.50	$
511CX	Blu-Ray Players	25 x $131.28	$
6146M	Home Theater Systems	40 x $656.12	$
1031A	LCD TVs	20 x $592.00	$
Merchandise Total	$ 56,191.80
Insurance + Shipping	$ 1,250
Invoice Total	$ 57,441.80

(b)

What are the discount date and the net date if the shipment arrived on July 13?

Discount Date Net Date

(c)

While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)?

Returned merchandise$ Revised merchandise total$

(d)

What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)

Cash discount$ Net amount due$

(e)

If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)

$

Solution

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Answer 27

Follow-up Question

Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $).

Stock #	Description	Unit Price	Amount
4811V	Stereo Receivers	50 x $296.50	$
511CX	Blu-Ray Players	25 x $131.28	$
6146M	Home Theater Systems	40 x $656.12	$
1031A	LCD TVs	20 x $592.00	$
Merchandise Total	$ 56,191.80
Insurance + Shipping	$ 1,250
Invoice Total	$ 57,441.80

(b)

What are the discount date and the net date if the shipment arrived on July 13?

Discount Date Net Date

(c)

While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)?

Returned merchandise$ Revised merchandise total$

(d)

What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)

Cash discount$ Net amount due$

(e)

If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)

$

Answer 28

Follow-up Question

Answer 29

Follow-up Question

Answer 30

Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $).

Stock #	Description	Unit Price	Amount
4811V	Stereo Receivers	50 x $296.50	$
511CX	Blu-Ray Players	25 x $131.28	$
6146M	Home Theater Systems	40 x $656.12	$
1031A	LCD TVs	20 x $592.00	$
Merchandise Total	$ 56,191.80
Insurance + Shipping	$ 1,250
Invoice Total	$ 57,441.80

(b)

What are the discount date and the net date if the shipment arrived on July 13?

Discount Date Net Date

(c)

While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)?

Returned merchandise$ Revised merchandise total$

(d)

What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)

Cash discount$ Net amount due$

(e)

If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)

$

Answer 31

Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $).

Stock #	Description	Unit Price	Amount
4811V	Stereo Receivers	50 x $296.50	$
511CX	Blu-Ray Players	25 x $131.28	$
6146M	Home Theater Systems	40 x $656.12	$
1031A	LCD TVs	20 x $592.00	$
Merchandise Total	$ 56,191.80
Insurance + Shipping	$ 1,250
Invoice Total	$ 57,441.80

(b)

What are the discount date and the net date if the shipment arrived on July 13?

Discount Date Net Date

(c)

While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)?

Returned merchandise$ Revised merchandise total$

(d)

What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)

Cash discount$ Net amount due$

(e)

If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)

$

Answer 32

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Answer 37

Follow-up Questions

Read through expert solutions to related follow-up questions below.

Follow-up Question

Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $).

Stock #	Description	Unit Price	Amount
4811V	Stereo Receivers	50 x $296.50	$
511CX	Blu-Ray Players	25 x $131.28	$
6146M	Home Theater Systems	40 x $656.12	$
1031A	LCD TVs	20 x $592.00	$
Merchandise Total	$ 56,191.80
Insurance + Shipping	$ 1,250
Invoice Total	$ 57,441.80

(b)

What are the discount date and the net date if the shipment arrived on July 13?

Discount Date Net Date

(c)

While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)?

Returned merchandise$ Revised merchandise total$

(d)

What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)

Cash discount$ Net amount due$

(e)

If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)

$

Solution

by Bartleby Expert

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Answer 38

Read through expert solutions to related follow-up questions below.

Follow-up Question

Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $).

Stock #	Description	Unit Price	Amount
4811V	Stereo Receivers	50 x $296.50	$
511CX	Blu-Ray Players	25 x $131.28	$
6146M	Home Theater Systems	40 x $656.12	$
1031A	LCD TVs	20 x $592.00	$
Merchandise Total	$ 56,191.80
Insurance + Shipping	$ 1,250
Invoice Total	$ 57,441.80

(b)

What are the discount date and the net date if the shipment arrived on July 13?

Discount Date Net Date

(c)

While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)?

Returned merchandise$ Revised merchandise total$

(d)

What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)

Cash discount$ Net amount due$

(e)

If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)

$

Solution

by Bartleby Expert

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Answer 39

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Answer 40

Follow-up Question

Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $).

Stock #	Description	Unit Price	Amount
4811V	Stereo Receivers	50 x $296.50	$
511CX	Blu-Ray Players	25 x $131.28	$
6146M	Home Theater Systems	40 x $656.12	$
1031A	LCD TVs	20 x $592.00	$
Merchandise Total	$ 56,191.80
Insurance + Shipping	$ 1,250
Invoice Total	$ 57,441.80

(b)

What are the discount date and the net date if the shipment arrived on July 13?

Discount Date Net Date

(c)

While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)?

Returned merchandise$ Revised merchandise total$

(d)

What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)

Cash discount$ Net amount due$

(e)

If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)

$

Solution

by Bartleby Expert

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Answer 41

Follow-up Question

Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $).

Stock #	Description	Unit Price	Amount
4811V	Stereo Receivers	50 x $296.50	$
511CX	Blu-Ray Players	25 x $131.28	$
6146M	Home Theater Systems	40 x $656.12	$
1031A	LCD TVs	20 x $592.00	$
Merchandise Total	$ 56,191.80
Insurance + Shipping	$ 1,250
Invoice Total	$ 57,441.80

(b)

What are the discount date and the net date if the shipment arrived on July 13?

Discount Date Net Date

(c)

While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)?

Returned merchandise$ Revised merchandise total$

(d)

What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)

Cash discount$ Net amount due$

(e)

If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)

$

Solution

by Bartleby Expert

SEE SOLUTION

Answer 42

Follow-up Question

Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $).

Stock #	Description	Unit Price	Amount
4811V	Stereo Receivers	50 x $296.50	$
511CX	Blu-Ray Players	25 x $131.28	$
6146M	Home Theater Systems	40 x $656.12	$
1031A	LCD TVs	20 x $592.00	$
Merchandise Total	$ 56,191.80
Insurance + Shipping	$ 1,250
Invoice Total	$ 57,441.80

(b)

What are the discount date and the net date if the shipment arrived on July 13?

Discount Date Net Date

(c)

While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)?

Returned merchandise$ Revised merchandise total$

(d)

What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)

Cash discount$ Net amount due$

(e)

If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)

$

Answer 43

Follow-up Question

Answer 44

Follow-up Question

Answer 45

Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $).

Stock #	Description	Unit Price	Amount
4811V	Stereo Receivers	50 x $296.50	$
511CX	Blu-Ray Players	25 x $131.28	$
6146M	Home Theater Systems	40 x $656.12	$
1031A	LCD TVs	20 x $592.00	$
Merchandise Total	$ 56,191.80
Insurance + Shipping	$ 1,250
Invoice Total	$ 57,441.80

(b)

What are the discount date and the net date if the shipment arrived on July 13?

Discount Date Net Date

(c)

While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)?

Returned merchandise$ Revised merchandise total$

(d)

What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)

Cash discount$ Net amount due$

(e)

If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)

$

Answer 46

Complete the invoice itemization by finding the total amount (in $) for each item, the merchandize total (in $), and the total amount of the invoice (in $).

Stock #	Description	Unit Price	Amount
4811V	Stereo Receivers	50 x $296.50	$
511CX	Blu-Ray Players	25 x $131.28	$
6146M	Home Theater Systems	40 x $656.12	$
1031A	LCD TVs	20 x $592.00	$
Merchandise Total	$ 56,191.80
Insurance + Shipping	$ 1,250
Invoice Total	$ 57,441.80

(b)

What are the discount date and the net date if the shipment arrived on July 13?

Discount Date Net Date

(c)

While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount (in $) of the returned merchandise? What is the revised merchandise total (in $)?

Returned merchandise$ Revised merchandise total$

(d)

What are the amount (in $) of the cash discount and the net amount due if the discount is taken? (Round your answers to the nearest cent.)

Cash discount$ Net amount due$

(e)

If Sound Design sends in a partial payment of $30,000.00 within the discount period, what is the net balance (in $) still due? (Round your answer to the nearest cent.)

$

Answer 47

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Answer 48

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