Nov.   1   Dollar Store purchases merchandise for $1,300 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1.     5   Dollar Store pays cash for the November 1 purchase.     7   Dollar Store discovers and returns $150 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund.     10   Dollar Store pays $65 cash for transportation costs for the November 1 purchase.     13   Dollar Store sells merchandise for $1,404 with terms n/30. The cost of the merchandise is $702.     16   Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $285 and cost $143; the items were not damaged and were returned to inventory.

StickUps Company uses a Sales Journal, a Purchases Journal, a Cash Receipts Journal, a Cash Disbursements Journal, and a General Journal. The following transactions occurred during the month of September 2020: Sept.   3 Purchased merchandise on credit for $6,200 from Pacer Co.     7 Sold merchandise on credit to J. Namal for $1,800, subject to a 2% sales discount if paid by the end of the month. Cost, $1,000.     9 Borrowed $5,500 by giving a note to the bank.     13 The owner, Dale Trent, invested an additional $7,000 cash into the business.     18 Sold merchandise to B. Baird for $460 cash. Cost, $280.     22 Paid Pacer Co. $6,200 for the merchandise purchased on September 3.     27 Received $1,764 from J. Namal in payment of the September 7 purchase.     30 Paid salaries of $3,200. Journalize the September transactions that should be recorded in the Cash Receipts Journal, assuming the perpetual inventory system. (Enter transactions in order)  Image attached…

Provisions Grocery Store purchased merchandise on account from Federal Grocers for $500.00 on April 6, terms 2/10, n/30. Federal Grocers prepaid freight charges of $25.00 and added them to the invoice. Assuming Provisions Grocery Store pays the amount due within the discount period, what is the amount of the payment?

Domestic

Company A purchases goods for cash on January 15. They purchase 10 items at a cost of $50 per item. 5 of these items are sold on January 29 for $700 cash. What is/(are) the entry/(ies) on January 29 to record the sale of the goods? O Debit Cash $700 Credit Sales Revenue S700 O Debit Accounts Receivable $700 Credit Sales Revenue $700 Debit Cost of Goods Sold $250 Credit Inventory $250 Debit Cash $700 Credit Sales Revenue $700 Debit Cost of Goods Sold S250 Credit Inventory $250 O Debit Cash $700 Credit Sales Revenue $700 Debit Cost of Goods Sold $500 Credit Inventory 5500

Nkome Traders, owner T Nkome, is a registered VAT vendor. The VAT rate applicable is 15%. Transactions: 20.3 February   3 Received and invoice (re-numbered to 20.3/105) from Bapela Wholesalers for merchandise purchased on credit for R18 975. 5 Some of the items to the value of R1 265 on invoice number 20.3/105 was not received. Issued a debit note for the amount. Bapela Wholesalers granted the claim and issued a credit note for the amount claimed. 10 Bought stationery, R1 035, from Big Stationers and received their invoice. 12 Received an invoice from Electronics Traders for the purchase of a new printer for R3 680. 17 Bought merchandise to the value of R21 965 from Bangani Wholesalers and received their invoice.   Complete the given Purchases journal and Purchases returns journal for February 20.3.

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Bramble Corporation sells merchandise on account for $4800 to Kingbird Corporation with credit terms of 2/10, n/30. Kingbird returns $800 of merchandise that was damaged, along with a cheque to settle the account within the discount period. What is the amount of the cheque? $4704 $4000 $3920 $4800

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