Sellane Appliances received an invoice dated September 17 with terms 4/10 EO.M. for the items listed below.6 refrigerators at $1020 each less 25% and 6%5 dishwashers at $001 each less 16%, 12.6%, and 3%(a) What is the last day for taking the cash discount?(b) What is the amount due if the invoice is paid on the last day for taking the discount?(c) What is the amount of the cash discount if a partial payment is made such that a balance of $2500 remains outstanding on the invoice?CHO(a) The last day for taking the cash discount is September 27(Type a whole number.)(b) The amount due is 5(Round to the nearest cent as needed.)(c) The cash discount is $(Round to the nearest cent as needed)

Credit term refers to a payment term mentioned in the invoice which stated the timing and payment of…

Answered: (a) What is the last day for taking the…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 4Q: American Signs allows customers to pay with their Jones credit card and cash. Jones charges American...

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Spring Appliances received an invoice dated August 18 with terms 2/10 E.O.M. for the items listed below. 6 refrigerators at $1030 each less 30% and 5% 3 dishwashers at $784 each less 15 and one third %, 12.2%, and 3% (a) What is the last day for taking the cash discount? (b) What is the amount due if the invoice is paid on the last day for taking the discount? (c) What is the amount of the cash discount if a partial payment is made such that a balance of $1700 remains outstanding on the invoice?
Spring Appliances received an invoice dated May 15 with terms 3/10 E.O.M. for the items listed below.5 refrigerators at $970 each less 20% and 5 % 4 dishwashers at $622 each Less 16(1/3), 12.8%, and 3 % (a) What is the last day for taking the cash discount? (b) What is the amount due if the invoice is paid on the last day for taking the discount? (c) What is the amount of the cash discount if a partial payment is made such that a balance of $1700 remains outstanding on the invoice?
If vests costing $00 with terms 2/20, n/60 ROG were received by the company on April 12 with an invoice dated April 6. When is the last day the buyer still can get the cash discount? If the buyer decided to pay the bill on May 9, then how much would the cash discount be in dollars?
Stacy's Dress Shop received a $1,230 invoice dated July 26 with 4/10, 3/15, n/60 terms. On August 09, Stacy's sent a $260 partial payment. (If more than one discount, assume date of last discount.) a. What credit should Stacy's receive? Note: Round your answer to the nearest cent. Credit Answer is complete and correct. $ 268.04 b. What is Stacy's outstanding balance? Note: Round your answer to the nearest cent. Answer is complete but not entirely correct. $ 962.00 X Outstanding balance
On March 19 Gunderson’s Hardware received a $20,800 invoice dated March 15. Cash discount terms were 3/10, n/30. On March 24, Gunderson sent an $8,320 partial payment. What is the outstanding amount due on this invoice? What is the outstanding on this invoice?
On May 18, an invoice dated May 17 for $4000 less 20% and 15%, terms 5/10 E.O.M. was received by Aldo Distributors. (a) What is the last day of the discount period? (b) What is the amount due if the invoice is paid within the discount period?
As a buyer for the J&J company, you receive an invoice with terms 3/10, EOM, net 60. The invoice amount was $7,800.00 and was dated APR. 28. When is the last day the buyer still can get the cash discount? When is the net payment due? If the invoice was paid on June 9, what would be the cash discount amount? (in $) If the invoice was paid on July 10, what would be the net amount due? (in $)
Stacy's Dress Shop received a $1,230 invoice dated July 26 with 4/10, 3/15, n/60 terms. On August 09, Stacy's sent a $260 partial payment. (If more than one discount, assume date of last discount.) a. What credit should Stacy's receive? Note: Round your answer to the nearest cent. Credit b. What is Stacy's outstanding balance? Note: Round your answer to the nearest cent. Outstanding balance
On November 1, the balance on your credit card is $533.76. On November 6, you make a purchase for $49.30. On November 8, you make a payment of $155. On November 12, you make a purchase for $76.51, and on November 25, you make a purchase for $32.64. Assume the billing date is the 1st of the month and the monthly finance charge is 1.7%. What is the average daily balance? $ What is the monthly finance charge? $ What is the balance at the start of the next month? $
An invoice for furniture for $1, 210.88 with terms of 2/10, n/60 is dated October 3. A. What is the last day on which cash discount may be taken? B. If paid within discount period, how much is the cash discount? C. If the discount is missed, on what day does the credit period end?
An invoice dated November 25 for $2600 had the terms 3/15,1.5/30,n/45 E.O.M. What is the last day for taking the 1.5% discount?
An invoice dated November 25 for $2600 had the terms 3/15, 1.5/30, n/45 E.O.M. What is the last day for taking the 1.5% discount? O A. December 30 O B. December 15 O c. December 10 O D. December 25

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