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Camp Corporation uses a perpetual inventory system. On May 1, Camp purchased inventory on account for $10,200. The terms of the purchase were 2/15, n/30.
Camp Corporation uses a perpetual inventory system. On May 1, Camp purchased inventory on account for $10,200. The terms of the purchase were 2/15, n/30. Camp returned $1,000 of inventory on May 4. Camp paid the supplier the amount due on May 11. The appropriate entry on May 11 would be: Select one: a. Accounts Payable 10.200 Cash 10,200 10.200 Accounts Payable Sales Discounts Cash 204 9.996 9,200 Accounts Payable Purchase Discounts Cash 0.016 10.200 Accounts Payable Purchase Discounts 204 9,996 Cash On June 30, 2019, Holman Construction issued 10-year bonds with a total face value of $2,500,000. When the 8% coupon rate bonds were issued, the market rate was 10%. Assuming that Holman pays interest every six months on December 31st and June 30th, what are the proceeds that Holman Construction received on the issue date, June 30, 2019? Select one: a. $2,192,771.64 b. $2,188,444.74 C. $2,500,000.00 d. $2,839,758.16
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