Merchandise is sold on account to a customer for $18,000, terms FOB shipping point, 2/10, n/30. The
Question:
(a) Amount of the sale,
(b) Amount debited to Accounts Receivable,
(c) Amount of the discount for early payment, and
(d) Amount due within the discount period.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
a 18000 b ...View the full answer
Answered By
Branice Buyengo Ajevi
I have been teaching for the last 5 years which has strengthened my interaction with students of different level.
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Merchandise is sold on account to a customer for $9,200, terms FOB shipping point, 2/10, n/30. The seller paid the transportation costs of $638. Determine the following: (a) Amount of the sale, (b)...
-
Merchandise is sold on account to a customer for $24,000, terms FOB shipping point, 2/10, n/30. The seller paid the freight of $425. Determine the following: (a) Amount of the sale, (b) Amount...
-
Merchandise is sold on account to a customer for $56,500, terms FOB shipping point, 2/10, n/30. The seller paid the freight of $2,100. Determine the following: (a) Amount of the sale, (b) Amount...
-
A Howe scissors roof truss is loaded as shown. Determine the force in members DF, DG, and EG. 2AN KN 2kN F! 1AN L5 m
-
Gerbig Snacks produces different styles of potato chips (ruffled, flat, thick-cut, gourmet) for different corporate customers. Each style of potato chip requires different preparation time, different...
-
Although programming skills may be a necessary prerequisite for employment at Microsoft, clearly theyre not enough to get you hired. Microsofts success in the computer software industry depends on...
-
Inc. Technology (Mar. 18,1997) reported the results of the 1996 EquifaxIHarris Consumer Privacy Survey in which 328 Internet users indicated their level of agreement with the following statement:...
-
Capital Asset Disclosures. Lynn County has prepared the following schedule related to its capital asset activity for the fiscal year 2011. Lynn County has governmental activities only, with no...
-
The historical evolution from accounting theory
-
The DellaVecchia Garden Center purchases and sells Christmas trees during the holiday season. It purchases the trees for $10 each and sells them for $20 each. Any trees not sold by Christmas day are...
-
The debits and credits for three related transactions are presented in the following T accounts. Describe eachtransaction. Cash Sales 32,340 35,000 Accounts Receivable Sales Discounts 35,000 (3)...
-
Bergquist Company purchased merchandise on account from a supplier for $12,000, terms 1/10, n/30. Bergquist Company returned $3,000 of the merchandise and received full credit. a. If Bergquist...
-
Explain why (a) A dilute aqueous solution of NH 3 smells of the gas whereas dilute HCl does not retain the acrid odour of gaseous HCl, (b) Ammonium carbamate is used in smelling salts.
-
Complete the "Leadership Vision Questionnaire" in Chapter 7 (p176). Reflect on your results and complete the following prompts: Share the results from your questionnaire. Be sure to include the final...
-
1. Prepare el Presupuesto Operacional hasta completar el COGS (70 puntos) La empresa ACCO 295 tiene una venta proyectada de $450,000 Cada unidad se vende $450 Su inventario inicial 300 (costo $125)...
-
Continuing Case 65. Retirement Income Forecast Jamie Lee and Ross, now 57 and still very active, have plenty of time on their hands now that the triplets are away at college. They both realized that...
-
The partnership of Frick, Wilson, and Clarke has elected to cease all operations and liquidate its business property. A balance sheet drawn up at this time shows the following account balances: Cash...
-
Harry and Sally went to a large hardware store and told the salesperson they wanted the cheapest rotating clothesline in stock, provided it would bear a heavy load of washing. The salesperson assured...
-
Cisneros Corporation owns 75% of Harrell Inc. Dur- ing the current year. Harrell Inc. reported net income of $150,000 and declared dividends of $40,000. How much would Cisneros Corporation increase...
-
Integration is a vital concept when applied in one?s life. Integrating your life means making ideal choices. Perfect choices on the other go in line with quality decisions. Quality decisions lead to...
-
Internationalization theory presents a set, staged model for international expansion. The automobile manufacturer Toyota represents one of the worlds largest and most global brands, but the expansion...
-
Using the data in BE8-11, indicate (1) The items that will result in an adjustment to the depositors records and (2) Why the other items do not require adjustment.
-
The board of trustees of a local church is concerned about the internal accounting controls for the offering collections made at weekly services. The trustees ask you to serve on a three-person audit...
-
You are the assistant controller in charge of general ledger accounting at Riverside Bottling Company. Your company has a large loan from an insurance company. The loan agreement requires that the...
-
Current Portion of Long-Term Debt PepsiCo, Inc., reported the following information about its long-term debt in the notes to a recent financial statement (in millions): Long-term debt is composed of...
-
Show transcribed image text 31/12/2016 GHS'000 25,500 The following information relates to the draft financial statements of Samanpa Ltd. Summarised statement of financial position as at: 31/12/2017...
-
\ How do i solve this? Beginning raw materials inventory Ending raw materials inventory Direct labor Operating expenses Purchases of direct materials Beginning work in process inventory Ending work...
Study smarter with the SolutionInn App