Question Content Area Merchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $19,700. What is the amount of sales discount allowable? a. $189 b. $142 c. $201 d. $394
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Question Content Area
Merchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $19,700. What is the amount of sales discount allowable?
a. $189b. $142c. $201d. $394
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- Merchandise subject to terms 3/10, n/25, FOB shipping point, is sold on account to a customer for $20,000. What is the amount of the sales discount allowed in case the customer pays within the discount period? Select one: a. $600 b. $460 c. $150 d. $260w.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inp Merchandise subject to terms 1/10, n/30, FOB shipping point, is sold on account, to a customer for $19,600. What is the amount of the sales discount allowable? a. $98 b. $392 c. $196 d. $490еВook Print Item Revenue Section, Multiple-Step Income Statement Instructions Income Statement Instructions Based on the information that follows: Sales $86,300 Sales Returns and Allowances 2,330 Sales Discounts 1,726 Required: Prepare the revenue section of a multiple-step income statement. %3D
- eBook Show Me How Question Content Area Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar. Merchandise FreightPaid by Seller Freight Terms Credit forRefunds andAllowances a. $5,850 $100 FOB shipping point, 2/10, n/30 $1,550 b. 2,800 500 FOB destination, 1/10, n/30 1,100Question Content Area Purchase-Related Transactions Showcase Co., a furniture wholesaler, sells merchandise to Balboa Co. on account, $28,500, terms n/30. The cost of the merchandise sold is $17,100. Showcase Co. issues a credit memo for $5,100 as a price adjustment prior to Balboa Co. paying the original invoice. Question Content Area a. Journalize Balboa Co.’s entry for the purchase. If an amount box does not require an entry, leave it blank. Question Content Area b. Journalize Balboa Co.’s entry for the credit memo. If an amount box does not require an entry, leave it blank. Question Content Area c. Journalize Balboa Co.’s entry for the payment of the invoice. If an amount box does not require an entry, leave it blank.odule Three Assignment - ACC x * CengageNOWv2 | Online teachir x com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogre... O eBook Show Me How Gross Profit During the current year, merchandise is sold for $118,700 cash and $454,300 on account. The cost of the goods sold is $383,900. What is the amount of the gross profit? Previous Next Check My Work 6:37 AM 45°F A D E a O 11/13/2021
- Question Content Area An invoice received included the following information: merchandise price, $4,500; terms 1/10, n/eom; FOB shipping point with prepaid freight of $460. Assuming that a credit for merchandise returned of $900 is granted prior to payment and that the invoice is paid within the discount period, what amount of cash should be paid by the buyer? a. $4,910 b. $4,500 c. $4,024 d. $900Journalize the following transactions in general journal form. a. Bought merchandise on account from Brewer, Inc., invoice no. B2997, 914; terms net 30 days; FOB destination. b. Received credit memo no. 96 from Brewer, Inc., for merchandise returned, 238.Question Mode Multiple Choice Question On June 5, X-Mart purchased $400 of merchandise with terms of 2/10,n/30. If payment is made on June 11, calculate the purchase discount that may be taken by X-Mart. Multiple choice question. $12 $40 $0 $8
- S Module Three Assignment - ACC X * CengageNOwv2 | Online teachir x cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogre.. * h eBook Show Me How Purchases Transactions Rolfes Company purchased merchandise on account from Springhill Company for $6,300, terms 1/10, n/30. Rolfes returned merchandise with an invoice amount of $1,600 and received full credit. a. If Rolfes 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 Rolfes Company to record the return? Previous Next Check My Work 6:39 AM 45°F 11/13/2021|Federa X M UMassD Logor X E QuickLaunch K myCourses Da: X 4 Univ of Mass Ceng cation.com Saved ework i View transaction list Journal entry worksheet arch 近Instructions Journalize the following merchandise transactions. Refer to the chart of accounts for the exact wording of the account itles. CNOW journals do not use ines for jounal explanations. Every Nne on a journal page is used for debit or aredit ents. CNOW journals will automaticaly indent a credit entry when a credit amount s entered. 1 Sold merchandise on account, $94,800 with terms 2/10, n30. The sost.ot the merchandise nold was Mar. $56,900. Received payment les the discount. 13 Issued a $500 oredit memo for damaged merchandise. The customer agreed to keep the merchandise
