just complete the part where it says assume Metlock CO. paid the balance on May 4th Your answer is partially correct. Try again.his information relates to Metlock Co.1. On April 5, purchased merchandise from Ivanhoe Company for $26,200, terms 3/10, n/30.2. On April 6, paid freight costs of $540 on merchandise purchased from Ivanhoe.3.On April 7, purchased equipment on account for $30,500.On April 8, returned $3,900 of April 5 merchandise to Ivanhoe Company.5.On April 15, paid the amount due to Ivanhoe Company in full. Assume that Metlock Co. paid the balance due to Ivanhoe Company on May 4 instead of April 15. Prepare the journal entry to record this payment.

If payment made after the term period then there will be no discount available for Matlock co.

his information relates to Metlock Co. On April 5, purchased merchandise from Ivanhoe Company for $26,200, terms 3/10, n/30. On April 6, paid freight costs of $540 on merchandise purchased from Ivanhoe. e. . On April 7, purchased equipment on account for $30,500. . On April 8, returned $3,900 of April 5 merchandise to Ivanhoe Company. 5. On April 15, paid the amount due to Ivanhoe Company in full.

his information relates to Metlock Co. On April 5, purchased merchandise from Ivanhoe Company for $26,200, terms 3/10, n/30. On April 6, paid freight costs of $540 on merchandise purchased from Ivanhoe. e. . On April 7, purchased equipment on account for $30,500. . On April 8, returned $3,900 of April 5 merchandise to Ivanhoe Company. 5. On April 15, paid the amount due to Ivanhoe Company in full.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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