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raffaldarmaki9412
25.07.2020 •
Business
Waterway Company made a purchase of merchandise on credit from Carla Vista Company on August 8, for $9200, terms 3/10, n/30. On August 17, Waterway makes the appropriate payment to Carla Vista. The entry on August 17 for Waterway Company is:
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Ответ:
Dr Accounts Payable 9,200
Cr Inventory 276
Cr Cash 8,924
Explanation:
Preparation of the Journal entry on August 17 for Waterway Company
Since we were told that the company made a credit purchase of the merchandise on Aug 8 for the amount of $9,200 with a terms of 3/10 from Carla Vista Company this means that the transaction will be recorded as:
Dr Accounts Payable 9,200
Cr Inventory 276
(3%×9,200)
Cr Cash 8,924
(97%*9,200)
Ответ:
Computation of Net Invoice Amounts to be Paid:
Merchandise(gross) Terms Payment Discounts Net Invoice $
a. $7,800 2/10, n/60 $156 ($7,800*2%) $7,644
b. 24.200 1/15, EOM 242 ($24,200*1%) 23,958
c. 80,600 1/10, n/30 806 ($80,600*1%) 79,794
d. 17,000 3/15, n/45 510 ($17,000*3%) 16,490
Explanation:
a) Data:
Merchandise(gross) Terms Payment
a. $7,800 2/10, n/60
b. 24.200 1/15, EOM
c. 80,600 1/10, n/30
d. 17,000 3/15, n/45
Calculations:
Merchandise(gross) Terms Payment Discounts Net Invoice $
a. $7,800 2/10, n/60 $156 ($7,800*2%) $7,644
b. 24.200 1/15, EOM 242 ($24,200*1%) 23,958
c. 80,600 1/10, n/30 806 ($80,600*1%) 79,794
d. 17,000 3/15, n/45 510 ($17,000*3%) 16,490