On April 6, 2014, Fashion Furnishings purchased $42,000 of merchandise from James' Imports, terms 1/10, n/45. On April 8, Fashion returned $8,800 of the merchandise to James' Imports for credit. Fashion paid cash for the merchandise on April 15, 2014.

Required

A. What is the amount that Fashion must pay James' Imports on April 15? B. Record the events in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, NC for net change in cash and NA to indicate the element is not affected by the event. (Enter any decreases to account balances and cash outflows with a minus sign.) C. How much must Fashion pay for the merchandise purchased if the payment is not made until April 20, 2014? D. Record the payment of the merchandise in Requirement c in a horizontal statements. In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, NC for net change in cash and NA to indicate the element is not affected by the event. (Enter any decreases to account balances and cash outflows with a minus sign