How much must be paid on December 20, 2014 to settle three invoices of values $129,278, $85,648, and $13,614 that were received on November 19, 2014, November 20, 2014, and December 10, 2014 respectively. The payment terms are 3/10, 2/30, n/45?
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How much must be paid on December 20, 2014 to settle three invoices of values $129,278, $85,648, and $13,614 that were received on November 19, 2014, November 20, 2014, and December 10, 2014 respectively. The payment terms are 3/10, 2/30, n/45?
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- Can the 10,000 note be repaid on May 1? Explain.What payment should be made on an invoice for $500 dated November 16, carrying terms 4/10, net 30?How much will be the amount to be paid on July 15 of the same year in payment of an invoice dated June 5, amounting to P41,500.00 with terms 5/10, 3/30, n/60?
- What payment on January 31, 2014 will settle an invoice for $3,500 dated January 27, 2014 and payment terms 3/10 E.O.M.? Round to the nearest centhi based on the above question would item h) $250,000 of the notes payable is due for payment on December 31st, 2021, would this be reflected in the jounal entry? if so how do I enter it on the journal entry?This RM15,000 invoice with a date of 18 April 2016 is eligible for a 30% trade discount and cash discount conditions of 9/10, n/30. Find: a) the amount of the trade discount that is being provided. b)the sum of the rebate. c) if the invoice is paid on April 28, 2016, the net payment.
- On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $120,900 on December 31, 2022. The proceeds of the note were $116,400. Required: a. Calculate the discount rate used by the lender.Haatimvopened an RRSP deposit account on December 1, 2008, with a deposit of $1400. He added $1400 on September 1, 2010, and $1400 on March 1, 2012. How much is in his account on April 1, 2016, if the deposit earns 6.3% p.a. compounded monthly? The amount in the account is?An invoice dated 15th March 2021 for RM750 was paid on the 31st March 2021. If the trade discount was 15% and the cash discount terms were 8/10, 5/30 and n/30, find:a) The trade discount offered.b) The cash discount offered.c) The amount paid.
- Q#5 . On January 1, 2021, The Barrett Company purchased merchandise from a supplier. Payment was a noninterest-bearing note requiring five annual payments of $22,000 on each December 31 beginning on December 31, 2021, and a lump-sum payment of $120,000 on December 31, 2025. A 12% interest rate properly reflects the time value of money in this situation. ((FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)Required:Calculate the amount at which Barrett should record the note payable and corresponding merchandise purchased on January 1, 2021. (Round your final answer to nearest whole dollar amount.) Table values are based on: n = i = Cash Flow Amount Present Value Payments Lump Sum Amount recordedRequired information [The following information applies to the questions displayed below.] On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $122,400 on December 31, 2022. The proceeds of the note were $116,400. c. 1. Record the journal entry to show the effects of signing the note and the receipt of the cash proceeds on August 1, 2022. 2. Record the journal entry to show the effects of recording interest expense for the month of September. 3. Record the journal entry to show the effects of repaying the note on December 31, 2022. Complete this question by entering your answers in the tabs below. Required C1 Required C2 Required C3 Record the journal entry to show the effects of signing the note and the receipt of the cash proceeds on August 1, 2022. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < 1What if the invoice date is 12/27, but the invoice is about next year's sevices, should we record the acount payable at 12/31 for this invoice?