Stacy's Dress Shop received a $1,240 invoice dated July 27 with 5/10, 4/15, n/60 terms. On August 10, Stacy's sent a $261 partial payment. (If more than one discount, assume date of last discount) a. What credit should Stacy's receive? (Round your answer to the nearest cent.) Credit %24 b. What is Stacy's outstanding balance? (Round your answer to the nearest cent.) Outstanding balance %24

Stacy's Dress Shop received a $1,240 invoice dated July 27 with 5/10, 4/15, n/60 terms. On August 10, Stacy's sent a $261 partial payment. (If more than one discount, assume date of last discount) a. What credit should Stacy's receive? (Round your answer to the nearest cent.) Credit %24 b. What is Stacy's outstanding balance? (Round your answer to the nearest cent.) Outstanding balance %24

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 5EA: Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200....

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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 29, Jangles Corporation received a $21,800 invoice dated March 26. Cash discount terms were 4/10, n/30. On April 02, Jangles sent an $8,720 partial payment.a. What credit should Jangles receive? (Round your answer to the nearest cent.) Credit b. What is Jangles’ outstanding balance? (Round your answer to the nearest cent.) Outstanding Balance
If Abby INC sells items to a customer who uses a credit card for $1100 and there is a credit card fee of 1.5% Abby will record an : ______ Round your final answer to the nearest dollar A. DEBIT TO ACCOUNT RECIEABLE FOR $1083 B. Credit to sales revenue for $1083 C. debit to sales expense for $17 D. Debit to credit card discount expense for $17
Assume that Sohar pipers Cores LC sold OMR 20000 pipes to the retailer with the credit terms of 2/10 , n / 30 . The retailer paid OMR 10000 within 10 days . From the following given options , identify the journal entry recorded by the company for the first payment made by credit customer . a . Dr Cash AC OMR 10000 and Cr Accounts receivables A/C OMR 10000 b. Dr Accounts receivables A / C OMR 10000 and Cr Cash A / C OMR 9800 , C Sales Discount A / C OMR 200 • c. Dr Cash A / C OMR 9800 , Dr Sales discount A / C OMR 200 and Cr Accounts receivables . A/C OMR 10000 d. None of the given options
Stacy's Dress Shop received a $1,130 invoice dated July 16 with 2/10, 1/15, n/60 terms. On July 30, Stacy's sent a $250 partial payment. a. What credit should Stacy's receive? (Round your answer to the nearest cent.) Credit b. What is Stacy's outstanding balance? (Round your answer to the nearest cent.) Outstanding balance
Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not ind. Stacy's Dress Shop received a $1,240 invoice dated July 27 with 5/10, 4/15, n/60 terms. On August 10, Stacy's sent a $261 partial payment. (If more than one discount, assume date of last discount) a. What credit should Stacy's receive? (Round your answer to the nearest cent.) Credit $ 271.88 b. What is Stacy's outstanding balance? (Round your answer to the nearest cent.) Outstanding balance %$4 8 of 10 Next > 中 < Prev
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?
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?
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Assume that Sohar pipers Cores LLC sold OMR 20000 pipes to the retailer with the credit terms of 2/10 , n/30. The retailer paid OMR 10000 within 10 days. From the following given options, identify the journal entry recorded by the company for the first payment made by credit customer. a. Dr Cash A/C OMR 9800, Dr Sales discount A/C OMR 200 and Cr Accounts receivables A/C OMR 10000 b. Dr Cash A/C OMR 10000 and Cr Accounts receivables A/c OMR 10000 c. Dr Accounts receivables A/C OMR 10000 and Cr Cash A/C OMR 9800, Cr Sales Discount A/C OMR 200 d. None of the given options Clear my choice
On March 12, jangles corporation received $20, 100 invoice dated March 9. Cash discount terms were 2/10, n/30. On March 16 jangles spent an $8,040 partial payment. What credit should jangles receive? What is jangles outstanding balance?