FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A business bought merchandise at the cost of $ 160,000 with terms 2/10, n/30 FOB Shipping Point. Afterwards, it returned $10,000 of inventory to its

image text in transcribed
A business bought merchandise at the cost of $ 160,000 with terms 2/10, n/30 FOB Shipping Point. Afterwards, it returned $10,000 of inventory to its supplier. If the company pays within the discount period, how much cash was paid to its supplier? Select one: O a $ 150,000 O b. $ 160,000. O c. $ 156,800. O d. $ 147,000 O e. $ 163,200

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A Non-Technical Guide To International Accounting

A Non-Technical Guide To International Accounting

Authors: Roger Hussey, Audra Ong

1st Edition

1946646865, 9781946646866

More Books

Students also viewed these Accounting questions

Question

★★★★★
What is the future value of $20,000 received in 10 years if it is invested at 6% compounded annually for the next six years and at 5% compounded semi annually for the remaining four years?

Answered: 1 week ago

Question

★★★★★
Journal entry worksheet 1 2 3 4 5 6 L 8 12 > April 1) Tanner invested $80,000 cash along with office equipment valued at $26,000 in the company in exchange for common stock. Note: Enter debits before...

Answered: 1 week ago

Question

★★★★★
List three types of market frictions and discuss how they can affect investment behavior.

Answered: 1 week ago

Question

★★★★★
HJ. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (1,500 pounds) has the following standards: The actual materials in a batch may vary from the standard...

Answered: 1 week ago

Question

★★★★★
2 . What computer ( refer by OS name and last octet of the IP address ) is running a web server? [ 0 . 2 5 mark ]

Answered: 1 week ago

Question

★★★★★
Relevent data for operating budgets from 2 0 2 3 are as follows to assist with the preperation of the schedule of cash

Answered: 1 week ago

Question

★★★★★
totaling 10 marks. Question 31 2 Points CASE: Noora is against smoking. She has seen how this bad habit can negatively affect health. Noora's father was a smoker, and he died a few years ago because...

Answered: 1 week ago

Question

★★★★★
1 8 . 2 . in surveting What are the steps required to provide a vertical location layout for ( a ) a one - story building or ( b ) a multistory building? List the steps in point form

Answered: 1 week ago

Question

★★★★★
Question 1-9 marks One of the most popular buzzwords in business today is the word "Kaizen". It is a Japanese word meaning "incremental improvement. Kaizen was formalized by the Toyota Production...

Answered: 1 week ago

Question

★★★★★
As strategic partners, how human resource managers approach change management, based on organizational structure, culture? Also, how knowing different functional areas of an organization (e.g.,...

Answered: 1 week ago

Question

★★★★★
Per case, Obermeyer s initial production commitment is at least 1 0 , 0 0 0 units. To get some more understanding, we\'ll change this slightly, to 1 2 , 0 0 0 units. Which styles should be produced...

Answered: 1 week ago

Question

★★★★★
In Example 4.2 Olaf Motors, Inc., determined that the number of Prius cars sold daily could vary from 0 to 5, with the probabilities given in Table 4.2. Find the expected value and variance for this...

Answered: 1 week ago

Question

★★★★★
4.20 Forest Green Brown, Inc., produces bags of cypress mulch. The weight in pounds per bag varies, as indicated in the accompanying table. Weight in pounds 44 45 46 47 48 49 50 Proportion of bags...

Answered: 1 week ago

Question

★★★★★
A contractor is interested in the total cost of a project on which she intends to bid. She estimates that materials will cost $25,000 and that her labor will be $900 per day. If the project takes X...

Answered: 1 week ago

Previous Question Next Question