Complete the following by calculating the cash discount and net amount paid: LU 7-2(1) Gross amount of Invoice (freight charge already Frelght Included) Date of Terms of Date of Cash Net amount charge Involce Involce раyment discount pakd 7-15. $7,000 $100 4/8 2/10, n/60 4/15 7-16. $600 None 81 3/10, 2/15, n/30 8/13 7-17. $200 None 11/13 1/10 EOM 12/3 7-18. $500 $100 11/29 1/10 EOM 1/4 Complete the following: LU 7-2(2) Date of Amount of Amount Involce Actual partlal payment made partlal payment payment to Balance of tnvolce Terms date be credited outstanding 7-19. $700 2/10, n/60 5/6 $400 5/15 7-20. $600 4/10, n/60 7/5 $400 7/14

Complete the following by calculating the cash discount and net amount paid: LU 7-2(1) Gross amount of Invoice (freight charge already Frelght Included) Date of Terms of Date of Cash Net amount charge Involce Involce раyment discount pakd 7-15. $7,000 $100 4/8 2/10, n/60 4/15 7-16. $600 None 81 3/10, 2/15, n/30 8/13 7-17. $200 None 11/13 1/10 EOM 12/3 7-18. $500 $100 11/29 1/10 EOM 1/4 Complete the following: LU 7-2(2) Date of Amount of Amount Involce Actual partlal payment made partlal payment payment to Balance of tnvolce Terms date be credited outstanding 7-19. $700 2/10, n/60 5/6 $400 5/15 7-20. $600 4/10, n/60 7/5 $400 7/14

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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