20 An n invoice in the amount ofS916 is subject to a trade discount of 10 and credit terms on n 30 If the invoice is not paid with in the discount period, the amount that would be paid to satisfy the invoice would be a $824 40 b $888 52 e $981 27 d $916 00 terms of 2 10, n 30 The amount to be 21 An invoice of $237 50 dated April 2 is subject to credit paid if the invoice is paid on or before April 12 is a $4 75 b $23 75 c $232 75 d $237 50 22 An invoice of $237 50 dated April 2 is subject to credit terms of 2 10, n 30 If the invoice is paid on April 14, the amount to be paid would be a $4 75 b $23 75 c $232 75 d $237 50 23 The account to which transportation charges on incoming merchandise are generally entered is a Freight In b FOB In c Freight Out d Delivery In 24 A journal designed for entering only sales on account is called the a cash receipts journal b cash payments journal c sales journal d general journal 25, Summary posting from the sales journal normally would be completed in which of the following orders a Accounts Receivable, Sales, and Sales Tax Payable columns b Sales Tax Payable, Sales, and Accounts Receivable columns c Sales, Sales Tax Payable, and Accounts Receivable columns d Accounts Receivable, Sales Tax Payable, and Sales columns 26 After posting is completed in the accounts receivable ledger and the general ledger, the total of the accounts receivable ledger balances should equal the a accounts payable account balance b accounts receivable account balance c cash account balance d net income amount

Question

20  An n invoice in the amount ofS916 is subject to a trade discount of 10  and credit terms on n 30  If the invoice is not paid with in the discount period, the amount that would be paid to satisfy the invoice would be a  $824 40  b  $888 52 e  $981 27 d  $916 00  terms of 2 10, n 30  The amount to be 21  An invoice of $237 50 dated April 2 is subject to credit paid if the invoice is paid on or before April 12 is a  $4 75 b  $23 75 c  $232 75 d  $237 50  22  An invoice of $237 50 dated April 2 is subject to credit terms of 2 10, n 30  If the invoice is paid on April 14, the amount to be paid would be a  $4 75  b  $23 75 c  $232 75 d  $237 50  23  The account to which transportation charges on incoming merchandise are generally entered is a  Freight In  b  FOB In  c  Freight Out d  Delivery In  24  A journal designed for entering only sales on account is called the a  cash receipts journal  b  cash payments journal  c  sales journal  d  general journal  25, Summary posting from the sales journal normally would be completed in which of the following orders  a  Accounts Receivable, Sales, and Sales Tax Payable columns b  Sales Tax Payable, Sales, and Accounts Receivable columns c  Sales, Sales Tax Payable, and Accounts Receivable columns d  Accounts Receivable, Sales Tax Payable, and Sales columns 26  After posting is completed in the accounts receivable ledger and the general ledger, the total of the accounts receivable ledger balances should equal the a  accounts payable account balance  b  accounts receivable account balance c  cash account balance  d  net income amount

Accepted Answer

The Answer is in the image, click to view ...

Question

20. An n invoice in the amount ofS916 is subject to a trade discount of 10% and credit terms on n/30. If the invoice is

Step by Step Solution

Step: 1

Get Instant Access to Expert-Tailored Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Recommended Textbook for

Management Accounting For Business

Students also viewed these Accounting questions

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question