1/10, n/30 3/15, n/45
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- Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is sold on account for 300 plus 3% sales tax, with 2/10, n/30 cash discount terms. (b) Part of the merchandise sold in transaction (a) for 70 plus sales tax is returned for credit. (c) The balance on account for the merchandise sold in transaction (a) is paid in cash 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 %24Compute the amount to be paid for each of the four separate invoices assuming that all invoices are paid within the discount period merchandise (gross) Terms a. $8,000 2/10,n/60 b. 24,500 1/15, EOM c. 81,000 1/10, n/30 d. 17,500. 3/15, n/45
- Compute the amount to be paid for each of the four separate invoices assuming that all invoices are paid within the discount period. Merchandise Payment (gross) Terms 2/10, n/60 a. b. 1/15, EOM C. 1/10, n/30 d. 3/15, n/45 $ 6,800 22,700 78,600 14,500Compute 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/45Determine 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
- Determining amounts to be paid on invoices Determine 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: ό ό ύ τ ο a. b. d. e. a. S b. S 00000 C. $ d. $ Merchandise e. S Invoice Amount $17,400 11,500 7,600 3,700 2,400 Freight Paid by Seller $500 100 FOB destination, n/30 FOB shipping point, 2/10, n/30 FOB shipping point, 2/10, n/30 FOB shipping point, 2/10, n/30 FOB destination, 2/10, n/30 Customer Returns and Allowances $900 1,400 700 500Determine 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 Freight Paid by Seller Returns and Allowances a. $21,800 - FOB shipping point, 1/10, n/30 $1,100 b. 12,000 $500 FOB shipping point, 1/10, n/30 1,400 c. 6,500 - FOB destination, 1/10, n/30 600 d. 2,900 100 FOB shipping point, 1/10, n/30 400 e. 3,600 - FOB destination, 1/10, n/30 - a. $fill in the blank 1 b. $fill in the blank 2 c. $fill in the blank 3 d. $fill in the blank 4 e. $fill in the blank 518. Merchandise subject to terms 1/10, n/30, FOB shipping point, is sold account to a customer for P15,000. The seller paid transportation costs ot P1,000 and issued a credit memorandum for P5,000 prior to payment. What i the amount of the cash discount allowable? a. P160 b. P150 c. P140 d. P100
- 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. $5,250Determining amounts to be paid on invoices Determine 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: a. b. d. C. d. a. $ e. e. b. $ c. $ Merchandise Feedback Invoice Amount 21,800 ✔ 10,380 X 7,900 X $23,000 10,100 Check My Work 8,700 3,800 3,700 Freight Paid by Seller $400 200 FOB destination, n/30 FOB shipping point, 2/10, n/30 FOB shipping point, 1/10, n/30 FOB shipping point, 2/10, n/30 FOB destination, 2/10, n/30 Customer Returns and Allowances $1,200 1,200 800 500A sales invoice included the following information: merchandise price, P4,100; transportation, P320; terms 1/10, n/EOM, FOB destination. Assuming that a credit for merchandise returned of P605 is granted prior to payment, that the transportation is prepaid by the seller, and the invoice is paid within the discount period, what is the amount of cash received by the seller? O A. 3,780.05 O B. 3,776.85 C. 3,460.05 O D. 3,140.05