OBJ 2 s (a) and (b) ment and that w PE 6 4A Freight terms Determine the amount to be paid in full settlement of each of two invoices, (a) and assuming that credit for returns and allowances was received prior to payment and all invoices were paid within the discount period Freight Paid by Seller Freight Terms FOB shipping point, 1 10, n 30 FOB destination, 2 10, n 30 Returns and Allowances $15,000 Merchandise $ 90,000 110,000 $1,000 1,575 8,500 Chapter 9 Receivables Show OBS Me How EX 9 22 Entries for notes receivable, including year end entries The following selected transactions were completed by Fasteners Inc Co , a supe buttons and zippers for clothing 20Y3 Nov 21 Received from McKenna Outer Wear Co , on account, a $96,000, 60 day 3 note dated November 21 in settlement of a past due account Dec 31 Recorded an adjusting entry for accrued interest on the note of November 21 20Y4 Jan 20 Received payment of note and interest from McKenna Outer Wear Co Journalize the entries to record the transactions

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OBJ  2 s  (a) and (b)  ment and that w PE 6 4A Freight terms Determine the amount to be paid in full settlement of each of two invoices, (a) and assuming that credit for returns and allowances was received prior to payment and all invoices were paid within the discount period  Freight Paid by Seller Freight Terms FOB shipping point, 1 10, n 30 FOB destination, 2 10, n 30 Returns and Allowances $15,000 Merchandise $ 90,000 110,000 $1,000 1,575 8,500 Chapter 9 Receivables Show OBS Me How EX 9 22 Entries for notes receivable, including year end entries The following selected transactions were completed by Fasteners Inc  Co , a supe buttons and zippers for clothing  20Y3 Nov  21  Received from McKenna Outer Wear Co , on account, a $96,000, 60 day  3  note dated November 21 in settlement of a past due account  Dec  31  Recorded an adjusting entry for accrued interest on the note of November 21  20Y4 Jan  20  Received payment of note and interest from McKenna Outer Wear Co  Journalize the entries to record the transactions

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OBJ. 2 s. (a) and (b). ment and that w PE 6-4A Freight terms Determine the amount to be paid in full settlement of each

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