Jones Company received an invoice for $1,450 dated August 28, terms/EOM.(A) What is the last date of the discount and credit periods?Discount periodCredit period

Name: Jones Company received an invoice for $1,450 dated August 28, terms/E
Uploaded: 2024-03-05T11:50:36.000Z
Channel: Bartleby
Description: Jones Company received an invoice for $1,450 dated August 28, terms/EOM.(A) What is the last date of the discount and credit periods?Discount periodCredit period

The company can make sales on account and also makes purchases on account, The companies make sales…

Answered: EOM Jones Company received an invoice…

Business

Accounting

EOM Jones Company received an invoice for $1,450 dated August 28, terms 10 (A) What is the last date of the discount and credit periods? Discount period Credit period

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

An invoice with an amount of OMR 8,500 dated March 20th, and terms of payment on ordinary dating 2/10, n/30 have been received. The bill is paid on April 18th. Which of the following is the last date of credit period? a. April 19th b. March 30th C. April 18th d. March 29th
ces Required information [The following information applies to the questions displayed below.] Following are transactions of Danica Company. December 13 Accepted a $20,000, 45-day, 4% note in granting Miranda Lee a time extension on her past-due account receivable. December 31 Prepared an adjusting entry to record the accrued interest on the Lee note. Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries. Note: Do not round your intermediate calculations. Use 360 days a year. Complete this question by entering your answers in the tabs below. Interest Amounts General Journal Complete the table to calculate the interest amounts at December 31st, Interest Recognized December 31 20,000 4% 18/360 Principal Rate (%) Time Total interest Total Through Maturity $ 20,000 $ 4% 45/360 Check my work
K An invoice is dated June 18 with terms 3/10-50 ex. Find the final discount date and the net payment date. The net payment date is 20 days after the final discount date. The final discount date is The net payment date is June July ▼ ▼ CHE
! Required information [The following information applies to the questions displayed below.] Claire Corporation is planning to issue bonds with a face value of $160,000 and a coupon rate of 8 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Claire uses the effective-interest amortization method and also uses a discount account. Assume an annual market rate of interest of 12 percent.(FV of $1. PV of $1, FVA of $1, and PVA of $1) Note: Use appropriate factor(s) from the tables provided. Show Transcribed Text < Journal entry worksheet Note: Enter debits before credits. Record the issuance of the bonds on January 1. Date January 01 Record entry J General Journal Clear entry c Debit Credit View general journal
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?
None
9. Which of the following is recorded upon receipt of a payment on April 7, 2021, by a customer who pays a $900 invoice dated March 3, 2021, with terms 2/10, n/60? A. Debit Sales Discounts $18. B. Credit Purchase Discounts $18. C. Credit Accounts Receivable $882. D. Debit Cash $900.
Journalize the following entries on the books of the borrower and creditor. Label accordingly. (Assume a 360-day year is used for interest calculations.) June 1 James Co. purchased merchandise on account from O’Leary Co., $90,000, terms n/30. The cost of merchandise sold was $54,000. 30 James Co. issued a 60-day, 5% note for $90,000 on account. Aug. 29 James Co. paid the amount due.
Prepare the entries for transaction below and indicate what journal it is 21 august issued a $600 credit memo to ultracity co. For an allowance on good sold on august 19, 2020
a. If the note is issued with a 45-day term, journalize the entries to record (refer to the company's Chart of Accounts for exact wording of account titles): 1. the issuance of the note.
Complete the following: (Use Table 7.1) Invoice Date goods are received Terms Last day of discount period Final day bill is due (end of credit period) June 18 1/10, n/30