FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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On March 29, Jangles Corporation received a $21,800 invoice dated March 26. Cash discount terms were 4/10, n/30. On April 02, Jangles sent an $8,720 partial payment.
a. What credit should Jangles receive? (Round your answer to the nearest cent.)
| Credit |
b. What is Jangles’ outstanding balance? (Round your answer to the nearest cent.)
| Outstanding Balance |
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4/10 Term says that if the due amount is paid within 10 days then. they can avail 4 % discount.
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- Can Tech Supply recently received two invoices, which were subsequently paid. The anmounts. terms. invoice dates and the dates the payments were made are shown below Based an this intomation determine the amounts of the payments that would have been made to settle the bils For fu marks your arswers) should be rounded to the nearest cent Cick here for help computing the number of days between two dates Invoice Amount Credit Terms Invoice Date Payment Date Payment $1,103.29 3/15, n/20 April 6 April 19 0.00 $1,611.72 1.25/10, n/20 June 18 June 29 0.00arrow_forwardnaruarrow_forwardBarans Company purchased merchandise on account from Springhill Company for $13,900, terms 2/10, n/30. Barans returned merchandise with an invoice amount of $2,600 and received full credit. A) If Barans Company pays the invoice within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar. ? B) What account is debited by Barans Company to record the return? ?arrow_forward
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