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 (Invoice Amount) Freight Paid by Seller Freight Terms Returns and Allowances (Invoice Amount) a. $9,950 $100 FOB destination, 2/10, n/30 $1,150 b. 3,700 300 FOB shipping point, 1/10, n/30 900 a. $fill in the blank 1 b. $fill in the blank 2

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 (Invoice Amount) Freight Paid by Seller Freight Terms Returns and Allowances (Invoice Amount) a. $9,950 $100 FOB destination, 2/10, n/30 $1,150 b. 3,700 300 FOB shipping point, 1/10, n/30 900 a. $fill in the blank 1 b. $fill in the blank 2

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 2CE: Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is...

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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.
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: Customer Freight Paid by Returns Merchandise Seller and Allowances $21,000 FOB destination, n/30 $1,100 а. b. 9,800 $400 FOB shipping point, 1/10, n/30 1,200 C. 5,000 FOB shipping point, 1/10, n/30 500 d. 3,100 100 FOB shipping point, 2/10, n/30 400 е. 2,400 FOB destination, 2/10, n/30 a. $ 19,900 b. $ C. $ d. $ е.
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: Freight Paid by Seller Customer Returns and Allowances Merchandise $14,000 FOB destination, n/30 $3,250 a. b. $380 FOB shipping point, 2/10, n/30 FOB shipping point, 1/10, n/30 FOB shipping point, 2/10, n/30 21,200 4,000 16,400 C. 900 d. 7,500 250 1,200 FOB destination, 1/10, n/30 28,800 e.
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: Merchandise Freight Paid by Seller Customer Returnsand Allowances a. $19,600 - FOB destination, n/30 $1,000 b. 12,200 $500 FOB shipping point, 2/10, n/30 1,500 c. 6,700 - FOB shipping point, 1/10, n/30 600 d. 2,600 100 FOB shipping point, 2/10, n/30 400 e. 1,500 - FOB destination, 1/10, n/30
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: Merchandise Freight Customer Returns Invoice Amount Paid by Seller and Allowances a. $17,400 FOB destination, n/30 $900 b. 11,900 $500 FOB shipping point, 2/10, n/30 1,400 C. 8,600 FOB shipping point, 1/10, n/30 800 d. 4,100 200 FOB shipping point, 2/10, n/30 600 е. 3,000 FOB destination, 1/10, n/30 а. $ b. с. d. e. $
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 Returns andAllowances a. $9,900 $400 FOB destination, 2/10, n/30 $1,450 b. 2,700 300 FOB shipping point, 1/10, n/30 800 a. $fill in the blank 1 b. $fill in the blank 2
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: Merchandise Freight Paid by Seller Customer Returns and Allowances a. $14,000 - FOB destination, n/30 $3,250 b. 21,200 $380 FOB shipping point, 2/10, n/30 4,000 c. 16,400 - FOB shipping point, 1/10, n/30 900 d. 7,500 250 FOB shipping point, 2/10, n/30 1,200 e. 28,800 - FOB destination, 1/10, n/30 -
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: Merchandise Freight Paid by Seller Customer Returnsand Allowances a. $17,200 - FOB destination, n/30 $900 b. 11,400 $500 FOB shipping point, 2/10, n/30 1,400 c. 8,100 - FOB shipping point, 1/10, n/30 700 d. 3,700 100 FOB shipping point, 1/10, n/30 500 e. 2,500 - FOB destination, 1/10, n/30 - a. $ b. $ c. $ d. $ e. $
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 al invoices were paid within the discount period. If required, round the answers to the nearest dollar. Credit for Refunds and Freight Paid by Seller Merchandise Freight Terms Allowances $6,300 $600 FOB shipping point, 2/10, n/30 $1,550 a. 2,900 600 FOB destination, 1/10, n/30 1,200 a.
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: Merchandise Freight Paid by Seller Customer Returns and Allowances a. $14,000 - FOB destination, n/30 $3,250 b. 21,200 $380 FOB shipping point, 2/10, n/30 4,000 c. 16,400 - FOB shipping point, 1/10, n/30 900 d. 7,500 250 FOB shipping point, 2/10, n/30 1,200 e. 28,800 - 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 5
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. 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 5
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: Customer Freight Paid by Returns Merchandise Seller and Allowances a. $14,700 FOB destination, n/30 $700 b. 9,700 $400 FOB shipping point, 2/10, n/30 200 с. 7,600 FOB shipping point, 2/10, n/30 700 d. 2,800 100 FOB shipping point, 1/10, n/30 400 е. 3,000 FOB destination, 1/10, n/30

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	Merchandise (Invoice Amount)	Freight Paid by Seller	Freight Terms	Returns and Allowances (Invoice Amount)
a.	$9,950		$100		FOB destination, 2/10, n/30	$1,150
b.	3,700		300		FOB shipping point, 1/10, n/30	900