Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Feb 08, 2022

Blossom Company on July 15 sells merchandise on account to Bramble Co. for $ 3700 , terms 3 /10, n/30. On July 20 Bramble Co.

Blossom Company on July 15 sells merchandise on account to Bramble Co. for $3700, terms 3/10, n/30. On July 20 Bramble Co. returns merchandise worth $1100 to Blossom Company. On July 24 payment is received from Bramble Co. for the balance due. What is the amount of cash received?

$2600

$2489

$2522

$3700

Step by Step Solution

★★★★★

3.42 Rating (155 Votes )

There are 3 Steps involved in it

Step: 1

Particulars Amount 2 Sale 3700 3 L... blur-text-image

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

Financial Accounting Tools for business decision making

Financial Accounting Tools for business decision making

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

6th Edition

978-1119191674, 047053477X, 111919167X, 978-0470534779

More Books

Students also viewed these Accounting questions

Question

★★★★★

Syfy Company on July 15 sells merchandise on account to Eureka Co. for $5,000, terms 2/10, n/30. On July 20 Eureka Co. returns merchandise worth $2,000 to Syfy Company. On July 24 payment is received...

Answered: 1 week ago

Question

★★★★★

On January 6, Petro Co. sells merchandise on account to Chose Inc. for $9,200, terms 1/10, n/30. On January 16, Chose pays the amount due. Instructions Prepare the entries on Petro Co.s books to...

Answered: 1 week ago

Question

★★★★★

On January 6 Gramke Co. sells merchandise on account to Colt Inc. for $8,000, terms 1/10, n/30. On January 16 Colt pays the amount due. Instructions Prepare the entries on Gramke Co.s books to record...

Answered: 1 week ago

Question

★★★★★

A random queue is a collection that supports the following API: Write a class RandomQueue that implements this API. Use a resizing array. To remove an item, swap one at a random position (indexed 0...

Answered: 1 week ago

Question

★★★★★

On January 3, 2014, Mega Limited purchased 3,000 shares (30%) of the common shares of Sonja Corp. for $438,000. The following information is provided about the identifiable assets and liabilities of...

Answered: 1 week ago

Question

★★★★★

In the context of memories, we are sometimes saying small is beautiful. What could be the reason for this?

Answered: 1 week ago

Question

★★★★★

67. A coin having probability p of coming up heads is continually flipped. Let Pj(n) denote the probability that a run of j successive heads occurs within the first n flips. (a) Argue that Pj(n) =...

Answered: 1 week ago

Question

★★★★★

Public-sector unions now account for more than half of union members, while the private sector accounts for less than half. Why has this change occurred?

Answered: 1 week ago

Question

★★★★★

QualSupport Corporation manufactures seats for automobiles, vans, trucks, and various recreational vehicles. The company has a number of plants around the world, including the Denver Cover Plant,...

Answered: 1 week ago

Question

★★★★★

Nanoparticles (3 nm in diameter) of platinum with a total weight of 1 milligram are used in automobile catalytic converters to facilitate oxidation reactions. As Pt is an expensive metal, a method to...

Answered: 1 week ago

Question

★★★★★

A food manufacturer reports the following for two of its divisions for a recent year. ($ millions) Invested assets, beginning Invested assets, ending Sales Operating income Beverage Cheese Division...

Answered: 1 week ago

Question

★★★★★

Choose a local or international organisation with which you are familiar. All of your answers must be based on this organisation. You must be able to easily obtain the required background information...

Answered: 1 week ago

Question

★★★★★

Paul, Sarker, and Essam (2016) identified four types of supply chain disruption risks. Based on course readings and your experience, in 3/4 paragraphs, address the following: Which are the greatest...

Answered: 1 week ago

Question

★★★★★

REMEMBER ME- LIVING LEGACIES Imagine you created business from a website that you can use as a memorial for your loved ones that passed away. Management and Operations Including yourself, how many...

Answered: 1 week ago

Question

★★★★★

If most new products are minor modifications of existing products, why do firms continue with high-risk, high-cost projects?

Answered: 1 week ago

Question

★★★★★

Examine the rules in /etc/snort/rules/ and find the duplicate rule. What is the sid: number for the duplicate rule? (Hint: answer is the higher of the two SID numbers.) what command would i use to...

Answered: 1 week ago

Question

★★★★★

At the end of the accounting period, but before the closing entries have been recorded, Doug, the proprietor of Pepper's Cafe, has a debit of $12,250 in his drawing account and a credit of $63,400 in...

Answered: 1 week ago

Question

★★★★★

2. In the circuit given in Figure 2, i,(t) = 5.67cos(5t)A and v (t) = 70.71 cos(5t 60) V a) Find the equivalent load impedance. State whether the load is inductive or capacitive. b) Calculate the...

Answered: 1 week ago

Question

★★★★★

Alford Company hires an accounting intern who says that intangible assets should always be amortized over their legal lives. Is the intern correct? Explain.

Answered: 1 week ago

Question

★★★★★

Discuss how the Sarbanes-Oxley Act has increased the importance of internal control to top managers of a company.

Answered: 1 week ago

Question

★★★★★

Delzer Corporation reported net sales $800,000; cost of goods sold $520,000; operating expenses $210,000; and net income $68,000. Calculate the following values and explain what they mean: (a) Profit...

Answered: 1 week ago

Question

★★★★★

Calculate the missing values for the promissory notes described

Answered: 1 week ago

Question

★★★★★

Calculate the maturity value of a 120-day, $1000 face value note dated November 30, 2011, and earning interest at 10.75%.

Answered: 1 week ago

Question

★★★★★

A 90-day non-interest-bearing note for $3300 is dated August 1. What would be a fair selling price of the note on September 1 if money can earn 7.75%?

Answered: 1 week ago

Previous Question Next Question