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Exercise 3-6A (Algo) Purchase discounts and purchase returns LO 3-2, 3-3 On April 6, Home Furnishings purchased $42,000 of merchandise from Una's Imports, terms 1/10,n/45.

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Exercise 3-6A (Algo) Purchase discounts and purchase returns LO 3-2, 3-3 On April 6, Home Furnishings purchased $42,000 of merchandise from Una's Imports, terms 1/10,n/45. On April 8 , Home Furnishings returned $8,800 of the merchandise to Una's Imports for credit. Home Furnishings paid cash for the merchandise on April 15. Required: a. What is the amount that Home Furnishings must pay Una's Imports on April 15? b. Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). c. How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April 20? d. Record the payment for the merchandise in Requirement (c) in the horizontal financial statements model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). Complete this question by entering your answers in the tabs below. What is the amount that Home Furnishings must pay Una's Imports on April 15? Complete this question by entering your answers in the tabs below. Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record th the model. Also, in the Statement of Cash Flows column, elassify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. Complete this question by entering your answers in the tabs below. How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April 20? Record the payment for the merchandise in Requirement (c) in the horizontal financial statements model. Also, in the Statement of Cash Flows column, classify the cash investing activities (IA), or financing activities (FA). Note: Enter any decreases to account baiances and cash outhows with a minus sign. Leave cells blank if no input is needed

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