Question

a credit sale of $4,000 is made on april 25, terms 2/10, n/30, on which a...

a credit sale of $4,000 is made on april 25, terms 2/10, n/30, on which a return of $250 is granted on april 28. what amount is recieved as payment in full on may 24?

a) $3,920

b) $3,675

c) $4,000

d) $3,750

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
On April 1, 2020, merchandise subject to terms 2/10, n/30 was sold on account to a...
On April 1, 2020, merchandise subject to terms 2/10, n/30 was sold on account to a customer for $27,000. On April 4, the customer returned $8,000 of the goods and the seller issued a credit memorandum for that amount. This return occurred prior to payment by the customer. What is the amount of cash required to be paid by the customer if payment is made on April 8, 2020? a. $ 18,460. b. $ 18,620. c. $ 19,000. d. $...
On April 1, 2020, merchandise subject to terms 2/10, n/30 was sold on account to a...
On April 1, 2020, merchandise subject to terms 2/10, n/30 was sold on account to a customer for $27,000. On April 4, the customer returned $8,000 of the goods and the seller issued a credit memorandum for that amount. This return occurred prior to payment by the customer. 13. What is the amount of cash required to be paid by the customer if payment is made on April 8, 2020? a. $ 18,460. b. $ 18,620. c. $ 19,000. d....
In credit terms of 1/10, n/30, the "1" represents the   a. number of days in the...
In credit terms of 1/10, n/30, the "1" represents the   a. number of days in the discount period b. full amount of the invoice c. number of days when the entire amount is due d. percent of the cash discount Merchandise with a sales price of $500 is sold on account with term 2/10, n/30. The journal entry to record the sale would include a   a. debit to Cash for $500 b. Debit to Sales Discounts for $10 c. Credit...
Sterling makes a credit sale of $1,000 on September 1, 2016, terms 2/10/30. They accept a...
Sterling makes a credit sale of $1,000 on September 1, 2016, terms 2/10/30. They accept a return of $400 on September 5th. What amount is due if full payment was received on September 8th. Make the journal entry in good form.
1. A credit sale of $1100 is made on July 15, terms 2/10, net/30, on which...
1. A credit sale of $1100 is made on July 15, terms 2/10, net/30, on which a return of $100 is granted on July 18. What amount is received as payment in full on July 24? $980 $1100 $1050 $1078 2. Which one of the following is not a justification for adjusting entries? Adjusting entries are necessary to ensure that the expense recognition principle is followed. Adjusting entries are necessary to ensure that the revenue recognition principle is followed. Adjusting...
Use for questions 1 and 2: On April 1, 2020, merchandise subject to terms 2/10, n/30...
Use for questions 1 and 2: On April 1, 2020, merchandise subject to terms 2/10, n/30 was sold on account to a customer for $27,000. On April 4, the customer returned $8,500 of the goods and the seller issued a credit memorandum for that amount.  This return occurred prior to payment by the customer. 1. What is the amount of cash required to be paid by the customer if payment is made on April 8, 2020? 2. What is the amount...
Hunter Company purchased inventory with an invoice price of $4,000 and credit terms of 2/10,n/30. Before...
Hunter Company purchased inventory with an invoice price of $4,000 and credit terms of 2/10,n/30. Before settling their account, Hunter received credit from their supplier for inventory returned $200. What is the amount Hunter Company would pay for this inventory if they settle their account within the discount period?
On March 28, Jangles Corporation recieved a $21,700 invoice dated March 25. Cash discount terms were...
On March 28, Jangles Corporation recieved a $21,700 invoice dated March 25. Cash discount terms were 3/10, n/30. On April 01, Jangles sent an $8,680 partial payment. What credit should Jangles recieve? What is Jangles' outstanding balance?
1.            AG Inc. made a $25,000 sale on account with the following terms: 1/15, n/30. If...
1.            AG Inc. made a $25,000 sale on account with the following terms: 1/15, n/30. If the company uses the net method to record sales made on credit, how much should be recorded as revenue? 2.            AG Inc. made a $25,000 sale on account with the following terms: 1/15, n/30. If the company uses the gross method to record sales made on credit, Accounts Receivable is debited for how much? 3.            AG Inc. made a $25,000 sale on account with...
1. The service company purchased merchandise on April 16, xxx1 for $75,000, credit terms 3/10, n/30...
1. The service company purchased merchandise on April 16, xxx1 for $75,000, credit terms 3/10, n/30 and the shipping costs for $2,300 FOB Destination. The company paid the account on April 24, then the inventory was sold for $93,750. The cost of goods sold is: a) $75,000 + $2,300 - $2,250 = $75,050 b) $75,000 + $2,300 = $77,300 c) $75,000 - $2,250 = $72,750 2. The service company purchased merchandise on April 16, xxx1 for $75,000, credit terms 3/10,...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT