Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. a. b. a. Merchandise $6,800 $3,900 Freight Paid by Seller $273 $72 Xx X Freight Terms FOB Shipping Point, 1/10, net 30 FOB Destination, 2/10, net 45 Returns and Allowances $700 $900
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- Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is sold on account for 300 plus 3% sales tax, with 2/10, n/30 cash discount terms. (b) Part of the merchandise sold in transaction (a) for 70 plus sales tax is returned for credit. (c) The balance on account for the merchandise sold in transaction (a) is paid in cash within the discount period.If a customer purchased merchandise in the amount of $340, terms 3/10, n/30, returned $70 of the inventory for a full refund, and received an allowance for $65, how much discount would be applied if the customer remitted payment within the discount window?A customer returns $690 worth of merchandise and receives a full refund. What accounts recognize this sales return, assuming the customer has not yet remitted payment to the retailer? A. accounts receivable, sales returns and allowances B. accounts receivable, cash C. sales returns and allowances, purchases D. sales discounts, cost of goods sold
- Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. Merchandise a. P8,000 3,000 b. c. 19,000 d. 5,000 e. 10,000 Transportation Paid by Seller P100 150 FOB shipping point, 1/10, n/30 FOB shipping point, 2/10, n/30 FOB destination, n/30 FOB shipping point, 1/10, n/30 FOB destination, 2/10, n/30 Returns and Allowances P2,400 1,400 800 1,200Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period: Customer Freight Paid by Returns Merchandise Seller and Allowances $21,000 FOB destination, n/30 $1,100 а. b. 9,800 $400 FOB shipping point, 1/10, n/30 1,200 C. 5,000 FOB shipping point, 1/10, n/30 500 d. 3,100 100 FOB shipping point, 2/10, n/30 400 е. 2,400 FOB destination, 2/10, n/30 a. $ 19,900 b. $ C. $ d. $ е.Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period: Customer Freight Paid by Returns Merchandise Seller and Allowances a. $14,700 FOB destination, n/30 $700 b. 9,700 $400 FOB shipping point, 2/10, n/30 200 с. 7,600 FOB shipping point, 2/10, n/30 700 d. 2,800 100 FOB shipping point, 1/10, n/30 400 е. 3,000 FOB destination, 1/10, n/30
- Determining amounts to be paid on invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period: ό ό ύ τ ο a. b. d. e. a. S b. S 00000 C. $ d. $ Merchandise e. S Invoice Amount $17,400 11,500 7,600 3,700 2,400 Freight Paid by Seller $500 100 FOB destination, n/30 FOB shipping point, 2/10, n/30 FOB shipping point, 2/10, n/30 FOB shipping point, 2/10, n/30 FOB destination, 2/10, n/30 Customer Returns and Allowances $900 1,400 700 500Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. a. b. Merchandise $10,700 $13,300 a. $ b. $ Freight Paid by Seller Freight Terms $376 FOB Shipping Point, 1/10, net 30 $58 FOB Destination, 2/10, net 45 Returns and Allowances $1,100 $2,900Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period: Freight Paid by Seller Customer Returns and Allowances Merchandise $14,000 FOB destination, n/30 $3,250 a. b. $380 FOB shipping point, 2/10, n/30 FOB shipping point, 1/10, n/30 FOB shipping point, 2/10, n/30 21,200 4,000 16,400 C. 900 d. 7,500 250 1,200 FOB destination, 1/10, n/30 28,800 e.
- Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period: Merchandise Freight Paid by Seller Customer Returnsand Allowances a. $19,600 - FOB destination, n/30 $1,000 b. 12,200 $500 FOB shipping point, 2/10, n/30 1,500 c. 6,700 - FOB shipping point, 1/10, n/30 600 d. 2,600 100 FOB shipping point, 2/10, n/30 400 e. 1,500 - FOB destination, 1/10, n/30Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period: Merchandise Freight Paid by Seller Customer Returnsand Allowances a. $17,200 - FOB destination, n/30 $900 b. 11,400 $500 FOB shipping point, 2/10, n/30 1,400 c. 8,100 - FOB shipping point, 1/10, n/30 700 d. 3,700 100 FOB shipping point, 1/10, n/30 500 e. 2,500 - FOB destination, 1/10, n/30 - a. $ b. $ c. $ d. $ e. $Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period: a. b. C. d. e. a. $ b. $ 00000 C. $ d. $ Merchandise e. $ Invoice Amount $16,900 9,000 6,100 3,400 2,900 Freight Paid by Seller $400 100 FOB destination, n/30 FOB shipping point, 2/10, n/30 FOB shipping point, 1/10, n/30 FOB shipping point, 1/10, n/30 FOB destination, 1/10, n/30 Customer Returns and Allowances $800 1,100 500 500