During the month of Jan  the following transaction occured  Credit purchase $30000   Cash purchase $ 12000  Return outward $2000  Cash paid   $25000   Discount received $200   Compute the balance in the account payable at the end of the month.

Merchandise costing $539 is sold for 1848 on terms 2/10, n/30. If the buyer pays within the discount period, when collection of cash within the 10 days the credit to accounts receivable will be $

Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $130 and the following activity. (Round your answer to the nearest cent.) Date Activity Amount October 3 Cash advance $50.00 October 7 Payment $75.00 October 10 Purchase $27.59 October 16 Credit $20.00 October 25 Purchase $124.60 average daily balance = $

Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 12%. Complete the following account activity table for Kathy. Round your answers to the nearest cent. Previous Purchases New Balance Month's Finance and Cash Payments End of Month Balance Charge Advances and Credits Month May $540.00 $177.53 $585.00

For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.1% per month on the average daily balance Find (a) the average daily balance, (b) the monthly finance charge, and (e) the account balance for the next billing Previous Balance: $485.26 January 13 Billing Date January 15 Retums January 20 Clothes January 27 Bus Sickets February 2 Payment February 6 Flowers $105.09 $114.34 $76.83 $130 $64.41 (a) The average daily balance is (Round to the nearest cent as needed.) (b) The finance charge is (Round to the nearest cent as needed) (c) The account balance for the next billing is $ (Round to the nearest cent as needed.)

The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: QI $ 210 Sales 02 $ 270 Beginning receivables Sales Cash collections Ending receivables Q3 $ 330 a. Accounts receivable at the beginning of the year are $480. The company has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following: Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Beginning receivables Sales Cash collections Ending receivables Q1 210 Q1 04 $480 210 Q2 Q2 270 b. Accounts receivable at the beginning of the year are $480. The company has a 60-day collection period. Calculate cash collections in each of the four quarters by completing the following: Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. 270 Q3 Q3 330 330 Drair Q4 Q4 480 480 21.10 H