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Please help me 13. ABC Company is a wholesaler that buys merchandise in large quantities. lts supplier's catalog indicates a list price of $500 per
Please help me
13. ABC Company is a wholesaler that buys merchandise in large quantities. lts supplier's catalog indicates a list price of $500 per unit on merchandise Jasper intends to purchase, and offers a 30% trade discount for large quantity purchases. The cost of shipping for the merchandise is $7 per unit. ABC's total purchase price per unit will be: a. $507 1:). $350 c. $357 d. $343 e. $157 14. The amount recorded for merchandise inventory includes all of the following except: a Purchase discounts. Returns and allowances. b: c. Freight costs paid by the buyer. d. Freight costs paid by the seller. e. Trade discounts. 15. A company uses the perpetual inventory system and recorded the following entry: Merchandise Inventory Accounts Payable Debit A. This entry reects a. b. Return of merchandise. c. Sale of merchandise on credit. d. e. B. 2,500 2,500 Credit Purchase of merchandise on credit. the correct balance sheet category to earn points. Payment of the account payable less a 2% cash discount taken. Payment of the account payable less a 1% cash discount taken. Using the T-account below, present the above entry. Remember, each T-account must be presented under AS SETS Non-current Assets LIABILITIES EQUITY Property, Plant & Current Equipmen Assets t Investment s Intangible Assets\" Other Current Liabilitie- s Non- Current Liabilitie- 3 Contribute d Capital Earned Capital Accumulate d 0C1Step by Step Solution
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