On April 6, Home Furnishings purchased $45,000 of merchandise from Una's Imports, terms 1/10, n/45. On April 8, Home Furnishings returned $9,500 of the merchandise to Una's Imports for credit. Home Furnishings paid cash for the merchandise on April 15.

Required

1. What is the amount that Home Furnishings must pay Una's Imports on April 15?

2. Record the events in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for investing activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank.

3. How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April 20?

4. Record the payment of the merchandise in Requirement (c) in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for investing activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank

Required A Required B Required C Required D What is the amount that Home Furnishings must pay Una's Imports on April 15? Net amount due Required A Required B Required C Required D How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April 20? Payment Required A Required B Required C Required D Required D Record the payment of the merchandise in Requirement (c) in a horizontal statements model. In the Cash Flow column, use OA to designate operating activi financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. (Enter any decreases to account balances ar all cells require entry.) Income Statement HOME FURNISHINGS Effect of Events on the Financial Statements Balance Sheet = Liabilities + Stockholders' Equity Accounts Common Retained Revenue + Payable Earnings Events Statement of Cash Flows Assets Merchandise + Inventory Expenses = Net Income Cash + Stock Paid accounts payable