. Cash Discount 1. An invoice for Php 70 250 dated March 25, terms 5/10, 2/30, n/60, is paid in full on April 20. What is the total amount paid to settle the account?
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A. Cash Discount
1. An invoice for Php 70 250 dated March 25, terms 5/10, 2/30, n/60, is paid
in full on April 20. What is the total amount paid to settle the account?
2. Ms. Garcia received an invoice dated April 18 amounting to Php 30 123
for her ordered
plants. The invoice comes with cash discount terms, 5/5, 2/15, n/30, R.O.G.
The plants were received on April 25. If she paid on May 12, how much did she pay?
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- 1. An invoice dated June 27 for P20, 850 carried a cash discount of 5/30. If this invoice is paid on July 25, how much should be the payment?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?Find the cash discount and the net price on an invoice for RM580 dated April 17 with terms of 3/10, n/30 if the bill was paid April 26. Draw the “timeline” stated the initial date, the due date, and the day receives cash discount.
- buying and sellingWhat is the total cash discount if an invoice dated March 31 for P 15,000 with a payment terms of 3/20; 1/30; n/60 is paid in full on April 20?Melissa received an invoice for $5,000 that had payment terms of 2/15 n/30. He made a partial payment of $3,000 during the discount period. a. Calculate the amount credited. Round to the nearest cent b. Calculate the balance on the invoice after the partial payment was made.Jangles Corporation received a $20,000 invoice dated March 3. The Cash discount terms were 3/10, n/30. On March 10, Jangles sent a $12,000 partial payment. What credit should Jangles receive for this partial payment?
- Prisha received an invoice for $5,000 that had payment terms of 3/5 n/30. She made a partial payment of $2,000 during the discount period. a. Calculate the amount credited. Round to the nearest cent b. Calculate the balance on the invoice after the partial payment was made.A man received an invoice dated March 9, with term 3/10, n/30 amounting to $510. He paid the bill on March 12. How much was the cash discount?You receive an invoice for $17,400 with terms of 3/15, n/60. The supplier has a policy of allowing a cash discount for partial payments and you pay $8,000 within the discount period. Calculate the amount of credit you will receive for this payment.
- From the following transaction of M/s J. Chandra, you are required to prepare a Bills Receivable Book and Bills Payable Book 2003 Acceptance received from Jhon payable six months after date for Rs. 13,000 7 Accepted Mary Ellen's draft for Rs. 8,000 for 4 months Draw a bill on Dixon for Rs. 5,000 for 6 months Gave Ram our acceptance for Rs. 10,000 payable 6 months after date Jhon's acceptance for Rs. 13,000 was retired under a rebate of Rs. 200 Received a bill from Reddy for Rs. 2,000 for 2 months Accepted a bill of Edward for Rs. 9,000 for 3 months Accepted May Ellen's draft Rs. 4,000 for 2 months Drew a bill on Dixon for 4,000 for 3 months and accepted by him payable at State Bank of India, Madras. Jan. 1 7 10 21 25 26 27 30 31PLEASE SHOW ALL WORK 6. You receive an invoice for $18,300 with terms of 5/15, n/60. If the supplier has a policy of allowing a cash discount for partial payments and you pay $11,500 within the discount period, calculate the amount of credit you will receive for this payment.Amount credited = Amount paidComplement of cash discount rate = $11,500 7. For terms of 8/10, n/60 determine the annual rate you, in effect, pay the supplier if you fail to pay the invoice at the end of the discount period. Express the rate with 2 decimal places. 8. An invoice for $75.20 has terms of 3/10, 1/30, n/60. If you make payment 25 days after the invoice date, what amount should you pay? 9. You purchase goods on an invoice dated July 5 with terms of 4/15, n/45 ROG. If you receive the goods on July 23, calculate(a) the last day of the discount period, and (b) the last day of the credit period.b. Last day of credit period:Record the following transactions in the cash receipts journal. Jun. 12 Your company received payment in full from Jolie Inc. in the amount of $1,715 for merchandise purchased on June 4 for $1,750, invoice #1032. Jolie Inc. was offered terms of 2/10, n/30. Record the payment. Jun. 15 Portman Inc. mailed you a check for $2,600. The company paid for invoice #1027, dated June 1, in the amount of $2,600, terms offered 3/10, n/30. Jun. 17 Your company received a refund check (its check #12440) from the State Power Company because you overpaid your electric bill. The check was in the amount of $62. The Utility Expense account number is #450. Record receipt of the refund. If an amount box does not require an entry, leave it blank. CASH RECEIPTS JOURNAL Page: 24 Date Account InvoiceNo. Ref. CashDR SalesDiscountsDR AccountsReceivable,Sales, orotheraccounts CR 2019 Jun. 12 fill in the blank 3 fill in the blank 4 fill in the blank 5 fill in the blank 6 Jun. 15…