On April 14, 2010, Mattingly Furniture bought 200 coffee tables at $100 each from Mississippi Pine Warehouse. Shipping terms are FOB destination. Total delivery charges are $1,000. Mattingly uses a perpetual inventory system.

Mississippi Pine Warehouse gave Mattingly Furniture terms of 2/10, n/30. Mattingly paid for the coffee tables on April 22. On the 22^nd, Mattingly would make which of the following entries?

Question 8 options:

	Accounts Payable 20,000 Cash 19,600 Purchases Discounts 400
	Accounts Payable 20,000 Cash 19,600 Sales Discounts 400
	Accounts Payable 20,000 Cash 19,600 Inventory 400
	Accounts Payable 19,600 Purchase Discount 400 Cash 20,000
	none of the above

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Question 9 (1 point)

On December 31, 2009, the Italian Pasta Companys ending inventory consisted of 100 bags of fettuccine at a cost of $0.75 per bag. Throughout January 2010, the Italian Pasta Company purchased and sold additional bags of fettuccine. Refer to the table below for additional information.

Date	Transaction	Quantity	Cost per Bag	Total
1/10/10	Purchase	200	$0.80	$160
1/15/10	Sale	100	$1.50	$150
1/18/10	Purchase	400	$0.65	$260
1/25/10	Purchase	150	$0.70	$105
1/31/10	Sale	550	$1.50	$825

Assume that the Italian Pasta Company uses a LIFO perpetual inventory system. Ending inventory at January 31, 2010, is

Question 9 options:

	$137.50
	$140.00
	$142.50
	$155.00
	$300.00

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Question 10 (1 point)

On January 1, 2010, Run & Go Pizza purchased a delivery truck for $50,000. The truck has a $5,000 salvage value and a four-year (or 56,250 miles) useful life. During 2010, the company put 15,750 miles on the delivery truck.

If Run & Go uses the double-declining balance method, how much depreciation expense should Run & Go recognize in 2010?

Question 10 options:

	$6,300
	$7,000
	$22,500
	$25,000
	none of the above