Search the menus (Alt+/) A 100% Normal text Arial 11 + 5 6 7 3. Assume that Real Housewares gives all customers that pay on account the credit terms 4/15, n/60. On September 1, the company made sales of $6,000 of merchandise on account, which cost $2,500. If all customers pay by the end of the discount period, on September 15, prepare the journal entries to record the sale of goods and receipt of cash. 4. Tapps has an ending account balance of $4,950 for merchandise inventory on December 31, 2018. After performing a physical inventory count, the merchandise inventory on hand is actually $4,690. Prepare the journal entry to record the loss in merchandise inventory. 5. Saxon sold merchandise to Baxon on account, $215,000, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $75,215. Saxon paid freight of $2,500. Journalize the entries for Saxon and Baxon for the sale, purchase, and payment of the amount due. 6. Lexington Company purchased merchandise on account from a supplier for $15,600, terms 2/10, n/30. Lexington returned merchandise with an invoice amount of $4,000 and received full credit. If Lexington pays the invoice within the discount period, what is the amount of cash required for the payment? 7. On June 1, 2015, Helen Products issued a $5,250 promissory note to Mott's Co. in settlement of the company's past due account receivable. The promissory note will be due in 60 days and has a 15% stated interest rate. a. Record the journal entry for the issuance of the note. b. Prepare the journal entry for Helen Products on the due date, assuming that Mott's Co. pays the promissory note. Round interest to the nearest whole dollar 8. Using the allowance method, record the following transactions for Tony's, Inc.: a. Received $5,000 in cash for Jim May's outstanding account receivable and wrote off the remainder of $2,750 on July 6, 2019. Search the menus (Alt+/) A 100% Normal text Arial 11 + 1 4 L5 6 7 8. Using the allowance method, record the following transactions for Tony's, Inc.: a. Received $5,000 in cash for Jim May's outstanding account receivable and wrote off the remainder of $2,750 on July 6, 2019. b. Reinstated Jim May's account for the amount previously written off on July 6, 2019. Jim May paid for the amount owed in full. 9. List 3 examples of cash equivalents. a. b. C. 10. List the documents used to support a voucher for the purchase of goods. a. C