Luggage World buys briefcases with an invoice date of June 27. The terms of sale are 2/10 EOM. What is the net date for this invoice? July 10 July 30    August 10 August 30

Q: The invoice of a Toy company amounts to 800 OMR was dated February 7, and offered terms 2/10, n/30…

A: Introduction: ROG: ROG stands for Receipt of Goods. Due date is to be calculated from the date of…

Q: company A issues an invoice upon selling its product to company b Below is the information extracted…

A: PURCHASE DISCOUNT Purchase Discount is an offer from the Supplier to the Purchaser, to reduce the…

Q: In anticipation of stocking Mookie The Beagle™ Concierge branded inventory, Cy charged $864 for 6…

A: Account Account Type Increase/Decrease Debit/Credit Amount Rent & Lease Expense Increase Debit…

Q: Jill's dress shop purchaed merchandise worth $1,265 with an invoice date of November 27.  Jill paid…

A: Solution: As payment is made with in 15 days of invoice date, , therefore Jill will get cash…

Q: Using the EOM, ROG, and Extra dating methods, calculate the discount date and the net date for the…

A: Here's what each part of the term means: 2/10: This means that the buyer can receive a 2% discount…

Q: A small retailer buys goods from a vendor with an invoice amount of $9,300. The terms of the sale…

A: The term indicates that if the buyer paid his dues within stipulated time then he is eligible for…

Q: Get-Down Electronics buys MP3 players with an invoice date of April 27 and terms of sale of 4/20…

A: The term EOM says that a discount is allowed till the given days from the end of the month. But if…

Q: Review the following transactions for Birdy Birdhouses and record any required journal entries.…

A: Under periodic inventory system, Purchases account is debited for inventory purchase instead of…

Q: You purchase goods on an invoice dated February 5 of a leap year, with terms of 5/10-90X. Calculate…

A: Discount: Price reductions or the sale of anything at a lower price than the item's regular retail…

Q: A credit sale of $1,400 is made on Ju terms 2/10, n/30, on which a return granted on July 18. What…

A: JOURNAL ENTRIESJournal Entry is the first stage of Accounting Process. Journal Entry is the Process…

Q: A good is purchased with a net price of RO 240. The invoice is dated October 7th with terms 3/20,…

A: 3/20 net 45 means 3% early payment discount within 20 days or total amount due in 45 days.  Invoice…

Q: Complete the following  Invoice Date goods are received terms last day of discount period final day…

A: 3/10 EOM meaning there is a discount of 3% if the due is paid within 10 days, which is July 6, from…

Q: A company estimate the purchases for the following months: - Month October NovemberDecember January…

A: Purchase of goods can be made by two ways. One is cash purchases in which cash is paid immediately…

Q: Create the journal entries for Bates to recognize the following transactions. Assume the perpetual…

A: Journal entry:   Journal entry is a set of economic events which can be measured in monetary terms.…

Q: A retailer buys merchandise from a supplier with an invoice amount of $12,400. The terms of the sale…

A: DISCOUNT TERMThe 5/20 net 30 calculation is a way of providing cash discounts on purchases. It means…

Q: If vests costing $00 with terms 2/20, n/60 ROG were received by the company on April 12 with an…

A: The invoice with term ROG states that due date for invoice would be counted from the date of receipt…

Q: Using the following information about Sophie's business, answer the following question Credit Month…

A: Cash payment refers to the amount paid through the recipient of the goods and the services to the…

Q: Enter the following information in the Sales Daybook.  2020 Mar 1 Credit sales to Boago 520  3…

A: Lets understand the basics. Sales day book recorded all credit sales happen in the business. It is…

Q: The terms of sale are 3/20, net/45, May 1 dating. What is the last date the customer may pay in…

A: Meaning of 3/20, net/45 :- 3/20,  net/45 means that if the invoice price due is paid within 20…

Q: You place an order for 310 units of inventory at a unit price of $160. The supplier offers terms of…

A: 1/15, net 90 means if the amount due is paid within 15 days, the customer will get 1% discount,…

Q: An invoice for $589 is dated June 19, discount 4/20. Shipping charges are FOB shipping point for the…

A: The terms "4/20" on the invoice indicate a cash discount of 4% if paid within 20 days. The invoice…

Q: . A record of transactions for the month of September was as follows:   Purchases   Sales May 1…

A: FIFO is first in first out inventory method in which inventory which is purchased first will be sold…

Q: Complete the following: Invoice Jan. 26 Date goods are received Terms 4/10 EOM Last day of discount…

A: The time between the final day that the discount terms are still in effect and the date when the…

Q: 10. You purchase goods on an invoice dated July 27 with terms of 3/10 EOM. Determine (a) the last…

A: Since you have posted a question with multiple questions, we will solve the first one for you. If…

Q: On March 1, Bates Board Shop sells 280 surfboards to a local lifeguard station at a sales price of…

A: Accounts Receivables are those  accounts of customers to whom business has made credit sales on…

Q: Complete the following: Invoice April 27 Date goods are received Terms 4/10 EOM Last day of discount…

A: Given, Term = 3/10 Invoice date = April 27 The discount date would not be calculated from the date…

Q: ABC Industries has accounts receivable of $700, inventory of $1,200, sales of $4,200, and cost of…

A: Ratio is a tool which is used to measure the growth and performance of the firm by establishing the…

Q: Record in journal form the following transaction: Bought goods on credit for $4,500 from Andrew 23…

A: Journal entry is the process of recording business transactions in the books of accounts for the…

Q: An invoice for 600 for October 4 And have sales term of 2/10 ROG the merchandise arrive October 6…

A: Sales term 2/10 means if payment is made before 10 days 2% discount will be received.

Q: Salim gets an invoice dated September 14th and the good arrives on October 7th. Find the last day he…

A: The ROG on invoice states that date of discount would be counted from the date goods are received.

Q: An invoice for $128,700 dated August 26, 2014 for a shipment of furniture has payment terms 1.5/15,…

A: Trade credit refers to the practice of providing goods to the buyer who then pays for them at a…

Q: The terms of an invoice are 3/10, n/30 E.O.M. The invoice date is April 10. The last date on which…

A: Purchase discount is the amount of deduction allowed by seller on the amount of purchases made by…

Q: The buyer received an invoice from the seller for merchandise with list price of RO 3500 and credit…

A: Amount of discount=Invoice amount×Rate of interest=RO 3500×2%=RO 70 Thus, the amount of discount…

Q: An invoice for a laptop computer that costs $625.68 is dated September 15, with sales terms of 3/10…

A: 3/10 EOM : Here, EOM stands for the End of month and 3 represents the discount rate if payment is…

Q: The trader of Children City purchased goods from the trader of Muscat City OMR 22500. Which of the…

A: Term 1/10, n/30 means, the customer will get 1% discount if he will pay within 10 days of purchase…

Q: Here is Deon's credit card statement for the month of November. Date Transaction November 1…

A: As in case of preparing table from credit card statement the amount of purchases increases the…

Q: Using the appropriate window, (QuickBooks online) record the following transactions for June 2023:…

A: Journal entries are the first step of the accounting process where the transactions are recorded in…

Q: You transfer a balance of $1,500 onto the card on the first day of your billing cycle. You make…

A: Customer transfer balance because ,he want to save interest cost. interest rate in the transferee…

Q: The following sales and purchases are expected over the Four-month period from December to March…

A: Cash budget of the business shows expected cash receipts and cash disbursements of the business for…

Q: Consider the following transaction: On March 6, Fun Cards sells 570 card decks with a sales price of…

A: Credit card expense = sales x Credit card charges rate = ($5130 x 3%) = $153.90

Q: nandise Business are 2/ s that The customer can dedi

A: The correct answer is  d) The customer can deduct a 2% discount if the bill is paid within 10 days…

Q: Bananas sells gift cards in $15, $25, and $50 increments. Assume Bananas sells $19.5 million in…

A: The cash received  for gift cards  is to be debited  and corresponding credit to be given to…