Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period.     Merchandise Freight Paid by Seller   Terms       Returns and Allowances a. $13,900   -     FOB shipping point, 1/10, n/30 $700   b. 10,300   $400     FOB shipping point, 1/10, n/30 1,200   c. 8,700   -     FOB destination, 2/10, n/30 800   d. 4,300   200     FOB shipping point, 2/10, n/30 600   e. 1,400   -     FOB destination, 2/10, n/30 -     a.  $fill in the blank 1 b.  $fill in the blank 2 c.  $fill in the blank 3 d.  $fill in the blank 4 e.  $fill in the blank 5

Q: For the following purchases of merchandise, determine the amount of cash to be paid: Purchase…

A: please like the answer your response matters   Cash to be paid   a 550   b 594…

Q: Determine the amount to be paid in full settlement of each purchase invoice, assuming that credit…

A: In the case of FOB Shipping point Amount to be paid = ( Purchases - Return ) * ( 1 - Discount rate )…

Q: Coronado Company has the following account balances: Purchases Sales Returns and Allowances Purchase…

A: Cost sheet is a method of allocating total costs into different categories. It helps to identify the…

Q: 1. Record purchases GROSS OR NET- example using purchase of $800 of inventory, terms 2/10, n30 -…

A: The periodic inventory system and the perpetual inventory system are two different methods used by…

Q: The debits and credits from four related transactions, (1) through (4), are presented in the…

A: FOB Shipping Point – Purchaser is responsible for paying the shipping charges.They are usually…

Q: A sales invoice included the following information: merchandise price, $4,200; terms 1/10, r/eom;…

A: Introduction:- Cost of merchandise includes as follows:- merchandise purchase price - purchase…

Q: Determine the amount to be paid in full settlement of the invoice assuming that credit for returns…

A: FOB destination sale: In FOB destination sale freight costs are paid by the seller and ownership is…

Q: Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…

A: a Amount to be paid in full settlement =  $22,080  = ($24,000 - $2,000) x (100%- 1%) + $300

Q: Determine the amount to be paid in full settlement of each purchase invoice, assuming that credit…

A: The total gross purchases might be divided by the purchase allowances, buy refunds, and purchase…

Q: freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…

A: IF the term is FOB shipping point then freight is added to the total cost but if the term is FOB…

Q: Calculate (A) cash discount (B) net amount paid Gross Invoice (including freight) Freight $50…

A: Cash discounts are incentives provided by a seller to a buyer in exchange for paying a bill in full…

Q: Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…

A: FOB Shipping point means Free on Board Shipping point. It means buyer is responsible for the goods…

Q: The amount of discount to be recorded if the invoice is paid within the discount period on a…

A: Trade discount is that discount which is being given to all the customers on the list price of the…

Q: Merchandise with a sales price of $1,100 is sold on account with terms 2/10, n/30. The journal entry…

A: 2/10, n/30 indicates that a discount of 2% will be given if payment is received within 10 days and…

Q: Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…

A: Accounts Payable is a ledger that represents the amount accrued by the organization. Purchases made…

Q: The debits and credits from four related transactions, (1) through (4), are presented in the…

A: The terms 1/10, n/30 mean that there will be 1% discount available to the customer if the payment is…

Q: Determine the amount to be paid in full settlement of each of two invoices (a) and (b), assuming…

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Q: a. b. Merchandise $10,700 $13,300 a. $ b. $ Freight Paid by Seller $376 $58 Freight Terms FOB…

A: Lets understand the basics.Under FOB destination, freight is the seller's expense and under the FOB…

Q: Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of…

A: FOB shipping point and FOB destination point are two important terms using during the transfer of…

Q: Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns…

A: In the case of FOB Shipping pointAmount to be paid = ( Purchases - Return ) * ( 1 - Discount rate )…

Q: For the following purchases of merchandise, determine the amount of cash to be paid: Total Invoice…

A: No. Date Cash Paid Calculation  a Jun-01 410   b Jun-12 811.80 (960-140)*(1-0.01) c Jun-14…

Q: Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns…

A: After the products are shipped from the seller's location, the buyer acquires ownership of them…

Q: Determine the amount to be paid in full settlement of the invoice assuming that credit for returns…

A: FINAL SETTLEMENT AMOUNT  Final Settlement Amount is Computed by Deducting Value of Discount From…

Q: Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming…

A: Under FOB shipping, the buyer becomes the owner as and when goods are shipped to customer. The…

Q: Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…

A: The invoice describes the payment details. It includes gross amount due, freight details, Discount…

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A: Solution a: Amount to be paid = ($6,700 - $1,700)×99% + $700 = $4,950 + $700 = $5,650

Q: Nieman Company purchased merchandise on account from a supplier for $5,500, terms 2/10, n/30. Nieman…

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

Q: Prepare the Journal Entries for the following purchase transactions: I. Purchase of merchandise…

A: Journal entries recording is termed as first step in accounting cycle proces, in which atleast one…

Q: Purchase transactions: Rolfes company purchased merchandise on account from Springhill Company for $…

A: Purchase discount is calculated by multiplying purchase less return by discount rate. 2/10, n/30…

Q: a) Goods sales expense record  B) Goods sales record  NS) Goods purchase record  D) Return…

A: Since we have booked a liability of VAT with adjustment to input tax as well hence it is a case of…

Q: Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming…

A: Full settlement refers to a process in which dues payable to an employee is to be calculated who…

Q: After the amount due on a sale of s33,900, terms 2/10, neom, is received from a customer within the…

A:

Q: Freight terms Determine the amount to be paid in full settlement of each of two invoices, (a) and…

A: Sales Discount: It implies a reduction or decrease in the price of the product that is sold by the…

Q: Determine the amount to be paid in full settlement of each of the following invoices, assuming that…

A: FOB shipping point explains that the ownership of the inventory is transferred to the purchaser once…

Q: Merchandise with a sales price of $3,000 is sold on account with terms 2/10, n/30. The journal entry…

A: Journal entries refer to the recording of transaction in an appropriate way. With the help of…

Q: Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns…

A: MERCHANDISE PURCHASED = MERCHANDISE - RETURN ALLOWANCE = $13,200 - $1,300 = $11,900   = MERCHANDISE…

Q: Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns…

A: Note: Under FOB destination, freight is the seller's expense and under the FOB shipping point,…