Make it into a journal entry Purchased merchandise worth P560,000 , 20% down payment, balance 2/10, n/30.
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Purchased merchandise worth P560,000 , 20% down payment, balance 2/10, n/30.
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- Q5. If merchandise is sold on account to a customer for $1,000, terms FOB shipping point, 1/10, n/30, and the seller prepays $50 in freight, the amount of the discount for early payment would be: A. $0 B. $5.00 C. $10.00 D. $10.50Question :) The amount of discount to be recorded if the invoice is paid within the discount period on a purchase of goods having a list price of $1,600, subject to a trade discount of 25 percent with terms 2/10, n/30, is a $24. b.$30. c.$29.40. d.$21. e.$450.Calculate the credit given for the partial payment and the net amount due on the invoice (in $). (Round your answers to the nearest cent.) Amount of Terms of Partial Credit for Net Invoice Sale Payment Partial Payment Amount Due $8,303.00 2/10, n/30 $2,600 $ 52 $ 5,651 Need Heln? Read It
- Assume the following information: merchandise is sold on account to customer for P120,000, FOB Shipping Point, 2/10, n/30. The seller paid transportation cost of P6,000. What is the amount of remittance due within the discount period?Compute the amount to be paid for each of the four separate invoices assuming that all invoices are paid within the discount period. Merchandise Terms Payment (gross) а. $ 10,000 2/10, n/60 b. $ 27,500 1/15, n/90 C. $ 85,000 1/10, n/30 d. 22,500 3/15, n/45 %24Determine 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 a. P8,000 3,000 b. c. 19,000 d. 5,000 e. 10,000 Transportation Paid by Seller P100 150 FOB shipping point, 1/10, n/30 FOB shipping point, 2/10, n/30 FOB destination, n/30 FOB shipping point, 1/10, n/30 FOB destination, 2/10, n/30 Returns and Allowances P2,400 1,400 800 1,200
- An item retailing for P10,000, subject to a trade discount of 25%, is paid for within the discount period on terms 2/10, n/30. What is the amount of payment? a. P7,350 b. P10,000 c. P7,400 d. P7,500The entry to record the receipt of payment within the discount period on a sale of $4000 with terms of 2/10, n/30 will include a credit to O Accounts Receivable for $4000. O Sales Discounts for $80. O Cash for $3920. O Sales Revenue for $4000.The amount of discount to be recorded if the invoice is paid within the discount period on a purchase of goods having a list price of $1,600, subject to a trade discount of 25 percent with terms 2/10, n/30, is a.$24. b.$30. c.$29.40. d.$21. e.$450.
- Compute the amount to be paid for each of the four separate invoices assuming that all invoices are paid within the discount period. Merchandise (gross) a. $ b. $ C. $ d. $ 5,000 20,000 75,000 10,000 Terms 2/10, n/60 1/15, n/90 1/10, n/30 3/15, n/45 PaymentCompute the amount to be paid for each of the four separate invoices assuming that all invoices are paid within the discount period. Merchandise Terms Рayment (gross) $ 10,000 2/10, n/60 а. b. 27,500 1/15, EOM C. 85,000 1/10, n/30 d. 22,500 3/15, n/45Calculate the credit given for the partial payment and the net amount due on the invoice (in $). (Round your answers to the nearest cent.) Credit for Amount of Invoice Terms of Partial Net Sale Payment Partial Payment Amount Due $5,998.20 4/15, n/60 $3,100