Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 30, 2022

Blossom Company sells merchandise on account for $8100 to Marigold Corp. with credit terms of 2/14, n/30. Marigold Corp. returns $1700 of merchandise that was

Blossom Company sells merchandise on account for $8100 to Marigold Corp. with credit terms of 2/14, n/30. Marigold Corp. returns $1700 of merchandise that was damaged, along with a check to settle the account within the discount period.

What is the amount of the check?

$6400

$6272

$7972

$7938

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Net Sales Sales on account Sales Returns 81... 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

Step: 3

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

College Accounting

Authors: Heintz and Parry

20th Edition

1285892070, 538489669, 9781111790301, 978-1285892078, 9780538489669, 1111790302, 978-0538745192

More Books

Students also viewed these Accounting questions

Question

★★★★★

On February 1, 2020, Chudzick Company sells merchandise on account to Livingston Company for $5,000. The entry to record this transaction by Chudzick Company is answer choices a. Cash 5000 Sales....

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

★★★★★

Compare sand, die, investment, lost foam, and continuous casting techniques.

Answered: 1 week ago

Question

★★★★★

Engineers at a computer production plant tested two methods for accuracy in drilling holes into a PC board. They tested how fast they could set the drilling machine by running 10 boards at each of...

Answered: 1 week ago

Question

★★★★★

Who is our customer? What kinds of things are important to that customer? How does he or she perceive us? What kind of relationships do we have? LO.1

Answered: 1 week ago

Question

★★★★★

Bees sit on a particular flower according to a Poisson process with a rate of ???? = 6 bees per minute. What is the probability that (i) exactly four bees visit the flower in two minutes? (ii) at...

Answered: 1 week ago

Question

★★★★★

Although this practice might invade individual privacy, many companies use IT to measure the quality and quantity of an employees work. Discuss the ethical implications of this practice.

Answered: 1 week ago

Question

★★★★★

Kelly Jones and Tami Crawford borrowed $26,000 on a 7-month, 6% note from Gem State Bank to open their business, JC's Coffee House. The money was borrowed on June 1, 2017, and the note matures...

Answered: 1 week ago

Question

★★★★★

At December 31, 2010, Westport Manufacturing Co. owned the following investments in the capital stock of publicly owned companies (all classified as available-for-sale securities): In 2011, Westport...

Answered: 1 week ago

Question

★★★★★

A study at an amusement park found that, of 10,000 families at the park, 1530 had brought one child, 1920 had brought two children, 2400 had brought three children, 1710 had brought four children,...

Answered: 1 week ago

Question

★★★★★

1 You are investigating fraudulent activities committed by two employees at your company. You're asked to provide non-refutable evidence to confirm it. What type of evidence will you provide? 0 / 1...

Answered: 1 week ago

Question

★★★★★

The Denver Company currently has a bond issue outstanding which carries a coupon rate of 6.4 percent, makes semiannual payments, currently sells for $967.40, and matures in 8.4 years. Suppose Denver...

Answered: 1 week ago

Question

★★★★★

GoGames is a software developer that sells games and apps through its own internet site. In addition to selling its own products, it offers products developed by SmallStuff and remits 95% of the...

Answered: 1 week ago

Question

★★★★★

Different marketing strategies of roundhill ETF that have engage more investors ? What factors contribute to the seemingly success of Roundhill Ball Metaverse ETF

Answered: 1 week ago

Question

★★★★★

A medical researcher wants an equal number of male and female participants in an upcoming controlled study for a new heart medication. Instead of selecting the 100 total participants from the...

Answered: 1 week ago

Question

★★★★★

? ? ? ? ? ? ? ? i s a p r o c e s s b y w h i c h a p r o g r a m i s o r g a n i z e d i n t o o b j e c t s . E a c h o b j e c t c o n t a i n s b o t h t h e d a t a a n d p r o c e s s i n g o p...

Answered: 1 week ago

Question

★★★★★

Carlton Stokes owns and operates a car-detailing business named SuperShine & Detailing. For $150, Carltons business will hand wash and wax customers cars, vacuum the interior, and thoroughly clean...

Answered: 1 week ago

Question

★★★★★

What are generally accepted accounting principles (GAAP)?

Answered: 1 week ago

Question

★★★★★

Jim Arnold began a business called Arnolds Shoe Repair. 1. Create T accounts for Cash; Supplies; Jim Arnold, Capital; and Utilities Expense. Identify the following transactions by letter and place...

Answered: 1 week ago

Question

★★★★★

Indicate whether each of the following documents or procedures is for a retail business or for a wholesale business, as described in the chapter. 1. A cash register receipt is given to the customer....

Answered: 1 week ago

Question

★★★★★

Has student life ever made you feel anxious or depressed? What advice would you have for new students?

Answered: 1 week ago

Question

★★★★★

Marina became consumed with the need to clean the entire house and refused to participate in any other activities. Her family consulted a therapist, who diagnosed her as having ______ - ______...

Answered: 1 week ago

Question

★★★★★

As his fans already know, comedian and TV personality Howie Mandel suffers from obsessive-compulsive disorder and a severe germ phobia. How do you think being labeled has helped or hurt Mandel?

Answered: 1 week ago

Previous Question Next Question