Required: Record the following transactions of Allen Inc.: (Round your answers to 2 decimal places.) DATE TRANSACTIONS 2019 March 8 Purchased merchandise on credit from Alenikov Designs, Invoice 1091, list price $3,200, trade discounts of 20 percent and 10 percent; terms 1/10, n/30. 17 Paid the amount owed on the purchase of March 8 from Alenikov Designs, less the 1 percent discount, Check 185.

5) Magnum mart purchased goods on 4th January 2019 for RO 86,000 on credit under the payment terms 2/10, n/30 and paid cash on 12th January 2019. How would you record this in the books of buyer under Periodic inventory system? a. Cash RO 84,280 Dr / Purchase discount RO 1,720 Dr /Account payable RO 86,000 Cr b. Account payable RO 86,000 Dr / Purchase discount RO 1,720 Cr / Cash RO 84,280 Cr c. Cash RO 86,000 Dr / Account payable RO 86,000 Cr d. Account payable RO 86,000 Dr / Cash RO 86,000 Cr

Emma Co. sold to Isabella Co. merchandise on account FOB shipping point, 1/10, net 30, for $11,700. Emma Co. prepaid the $820 shipping charge. Using the perpetual inventory method, which of the following entries will Isabella Co. make to record the payment for the merchandise if Isabella Co. pays within the discount period? Oa. Accounts Payable-Emma Co., debit $11,700; Freight In, debit $820; Cash, credit $12,520 Ob. Accounts Payable-Emma Co., debit $11,700; Cash, credit $11,700 Oc. Accounts Payable-Emma Co., debit $12,520; Merchandise Inventory, debit $117; Cash, credit $12,637 Od. Accounts Payable-Emma Co., debit $12,403; Cash, credit $12,403

Pierce Company sold merchandise to Stanton Company on account FOB shipping point, 2/10, net 30, for $11,600. Pierce prepaid the $221 shipping charge. Which of the following entries does Pierce make to record this sale? a.Accounts Receivable—Stanton, debit $11,600; Sales, credit $11,600 b.Accounts Receivable—Stanton, debit $11,821; Sales, credit $11,821 c.Accounts Receivable—Stanton, debit $11,600; Sales, credit $11,600, and Delivery Expense, debit $221; Cash, credit $221 d.Accounts Receivable—Stanton, debit $11,368; Sales, credit $11,368, and Accounts Receivable—Stanton, debit $221; Cash, credit $221

a. Make a general journal of the 8 transactions (December 2-16, 2020).

Whispering industries purchased $8,100 of merchandise on february 1, 2025, subject to a trade discount of 10% and with credit terms of 3/15, n/60. it returned $2,100 ( gross price before trade or cash discount) on february 4. the invoice was paid on february 13

Song, Inc. (seller), engaged in the following transactions during January 2019:   Song, Inc.    DATE TRANSACTIONS 2019   Jan. 8 Received payment of $2,058 on account from Bowden Company in payment of Invoice 1885 dated December 30, 2018, less cash discount of $42.   10 Sold merchandise for $1,550 on account to Bowden Company, Invoice 1920, terms 2/10, n/30.   15 Issued Credit Memorandum 320 to Bowden Company for damaged merchandise totaling $200 that was returned; the goods were purchased on Invoice 1920, dated January 10.   19 Received payment from Bowden Company for Invoice 1920 of January 10, less the return of January 15 and less the cash discount.   30 Sold merchandise for $3,300 to Bowden Company, Invoice 1950; terms 2/10, n/30.      Required: Journalize the transactions above in a general journal for Song, Inc.       No Date General Journal Debit Credit 1 Jan 08, 2019                                     2 Jan 10, 2019…

Pierce Company sold merchandise to Stanton Company on account FOB shipping point, 2/10, net 30, for $11,300. Pierce prepaid the $272 shipping charge. Which of the following entries does Pierce make for this sale? Oa. Accounts Receivable-Stanton, debit $11,300; Sales, credit $11,300 Ob. Accounts Receivable-Stanton, debit $11,572; Sales, credit $11,572 Oc. Accounts Receivable-Stanton, debit $11,300; Sales, credit $11,300, and Delivery Expense, debit $272; Cash, credit $272 Od. Accounts Receivable-Stanton, debit $11,074; Sales, credit $11,074, and Accounts Receivable-Stanton, debit $272; Cash, credit $272

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.

Merchandise subject to terms 4/15, n/28, FOB shipping point, is sold on account to a customer for $35,000. What is the amount of the cash discount allowed in case the customer pays within the discount period? Select one: a. $1,400 b. $9,800 c. $1,500 d. $5,250