Belpre, Inc. owes $90,000 to William's Drones Co. for inventory acquired with terms of 3/15, n/30. а. How much will Belpre, Inc. pay if pavment is made within the discount period?
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- XYZ Company purchased inventory worth $50,000 on credit terms of 2/10, n/30. Calculate the amount XYZ Company would pay if they settle the invoice within the discount period.The company purchased merchandise for ₱54,252 less 2 less 2 on terms 2/10, n/30. How much should the company pay if the account was paid in full within the discount period?48. An Entity sold 10 units of goods with a unit list price of P2,000 on Jan. 1, 2021. The Entity offered a trade discount of 5% and a cash discount of 10%, and that the cash discount period is 10 days, and the credit period is 30 days. If the customer settles the debt on Jan. 28,2021, what is the actual amount he needs to pay? O A. P17,100 О в. B. P1,710 C. P19,000 O D. P1,900
- 2. On June 1, 2020, Pitt Company sold merchandise with a list price of P5,000,000 to Burr on account. Pitt allowed trade discounts of 30% and 20%. Credit terms were 2/10, n/30 and the sale was made FOB shipping point. Pitt prepaid P200,000 of delivery costs for Burr as an accommodation. What amount should be reported as sales revenue? a. 5,000,000 b. 2,800,000 c. 3,500,000 d. 2,500,000 On June 11, 2020, what amount was received by Pitt from Burr as remittance in full? a. 2,744,000 b. 2,940,000 c. 2,944,000 d. 3,140,0008. On October 9, 2020, Polk Corporation sold merchandise to a customer for $1,000,000 on credit, terms 2/10, n/30. Cost of the merchandise sold was $600,000. The customer paid for the purchase on October 14. What account should Polk Corporation debit on October 14? Polk uses periodic inventory system. Accounts Receivable for $980,000. b. Cash for $1,000,000. а. Cash for $980,000. d. Accounts Receivable for $1,000,000. с. 9. Butterfly, Inc, purchased merchandise from a supplier on October 1, 2020, for $50,000 on account, terms 1/10, n/30. What entry would Butterfly use to record this purchase if the company uses perpetual inventory system. Accounts Payable Inventory а. 50,000 50,000 b. Inventory 49,500 Accounts Payable 49,500 Purchases 49,500 с. Accounts Payable 49,500 d. Inventory 50,000 Accounts Payable 50,000CDE1. Nezee Paints purchased merchandise on account from a supplier for $9,000, terms 2/10, n/30. Nezee Paints returned $1,200 of the merchandise two days later and received full credit. 1. If Nezee Paints pays the invoice one day before the end of the discount period, what is the amount of the discount? 2. Under the perpetual inventory system, what account is credited by Nezee Paints to record the return? 3. Assuming the payment was made one day before the end of the discount period, what is the balance of the Merchandise Inventory account after these transactions?
- Kingbird, Inc. purchased merchandise inventory with an invoice price of $13100 and credit terms of 2/10, n/30. What is the net cost of the goods if Kingbird, Inc. pays within the discount period?27. Williams Inc owes $45,000 to Smith & Sons for inventory acquired with terms of 3/15 net 30. How much will Williams pay if payment is made within the discount period? What transaction will Williams record on November 30, the company’s fiscal year end, if the invoice is dated November 28 and payment will be made on December 12?During February 1, 2018 Royal Company sold merchandise with a price of P100,000 towards Dew enterprise. Terms: 2/10, n/30. • How much is the accounts payable? • How much is the discount if paid in full within the discount period? • How much is the accounts receivable?
- During February 1, 2018 Royal Company sold merchandise with a price of P100,000 towards Dew enterprise. Terms: 2/10, n/30. • How much is the purchases? • How much is the invoice price? • Who is the seller?2) ABC Pty Ltd. sells $2,000 of goods to PQR Pty Ltd. on account with the terms of the invoice 2/20, n/30. The possible discount allowed in this situation will be:• $40• $50• $45• $55Help me with the solution: Jacob Co. sells merchandise on credit to Isaiah Co. in the amount of $9,700. The invoice is dated on May 1 with terms of 1/15, net 45. What is the amount of the discount and up to what date must the invoice be paid in order for the buyer to take advantage of the discount?