terms 2/10 n/45.
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- On April 6, Year 1, Home Furnishings purchased $25,200 of merchandise from Una Imports, terms 2/10 n/45. On April 8, Home returned $2,400 of the merchandise to Una Imports for credit. Home paid cash for the merchandise on April 15, Year 1. Required a. What is the amount that Home Furnishings must pay Una Imports on April 15? b. Record the events in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for investing activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. c. How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April 20, Year 1? d. Record the payment of the merchandise in Requirement (c) in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for investing activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the…On April 6, Year 1, Home Furnishings purchased $37,000 of merchandise from Una Imports, terms 2/10 n/45, On April 8, Home returned $7,800 of the merchandise to Una Imports for credit. Home paid cash for the merchandise on April 15, Year1. a. What is the amount that Home Furnishings must pay Una Imports on April 15? b. Record the events in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for investing activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. c. How much must Home Furnishing pay for the merchandise purchased if the payment is not made until April 20, Year 1. ? d. Record the payment of the merchandise in Requirement (c) in a horizontal statements model. In the cash Flow column, use OA to designate operating activity, IA for investing activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event,…On April 6, Home Furnishings purchased $32,000 of merchandise from Una's Imports, terms 3/10, n/45. On April 8, Home Furnishings returned $6,700 of the merchandise to Una's Imports for credit. Home Furnishings paid cash for the merchandise on April 15. Required a. What is the amount that Home Furnishings must pay Una's Imports on April 15? b. Record the events in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for investing activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. c. How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April 20? d. Record the payment of the merchandise in Requirement (c) in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for investing activity, FA for financing activity, or NC for net change in cash. If the element is not affected by…
- Assign on Apt 6, Home Furmtshings purchased $25,200 of mechandise from Una's Imports, terms 2/10, n/45. On April 8, Horne Furntshtngs ed $2,400 of the merchandise to Una's Imports for credit Home Fumishings pald cash for the merchandise on April 15. Required What ts the amount that Home Furnishings must pay Una's Imports on April 15? Record the events In a hortzontal statements model In the Cash Flow column, use OA to designate operating activity, IA for investing activity, FA for financing activity, or NC for net change In cash. If the element Is not affected by the event, leave the cell blank How much must Home Furnishings pay for the merchandise purchased if the payment Is not made until April 20? 1. Record the payment of the merchandise In Requirement (c) In a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for Investing activity, FA for financing activity, or NC for net change In cash If the element is not affected by the event,…Determine the financial statement effects of Accounts Payable Transactions, when Hobson Company has the following items: Purchases $1,250 of inventory on credit. Sells inventory for $1,650 on credit. Records $1,260 cost of sales for transaction b. Receives $1,650 cash towards accounts receivable. Pays $1,260 cash to settle accounts payable.Three transactions for Crane Gifts are presented here. On October 2, Crane Gifts purchased $36,000 of merchandise from Sea Toys, terms 2/10, n/30. On October 6, Crane Gifts returned $2,100 of the merchandise purchased on October 2. On October 12, Crane Gifts paid the balance due to Sea Toys. a. How much cash is paid by Crane Gifts on October 12? Cash Payment $ b. Post the transactions to the T-accounts. (Post entries in the order displayed in the problem statement.) > V Accounts Payable Inventory V > v
- Directions: Record the following transactions in the appropriate journals. Lloyd Gurango Co. completed the following sales transactions during the month of June 2021. A credit sales have terms of 3/10, n/30, and all invoices are dates as at the transaction date. June 1 4 7 9 13 ಈ 15 18 20 Mr. Gurango invested P52 000 of his funds in the business Sold merchandise on account to KRA Company, P32 000. Invoice number 377 Sold P46 000 of merchandise for cash. Received payment from KRA Company, fewer discounts. Received payment from LRM Trading, fewer discounts. Sold merchandise to JPT Store on account, P62 000. Invoice number 379. Collected the amount due from JPT Store. Fewer discounts. Paid the employees' wages for the month amounting to P5,000 Acquired merchandise to YMC Trading worth P15, 000 payable next month Acquired merchandise on credit from ABS Manufacturing worth P15, 000. The invoice number is 201 and the credit term is n/30Barans Company purchased merchandise on account from a supplier for $9,200, terms 1/10, n/30. Barans returned $1,500 of the merchandise and received full credit. A. If Barans Company pays the invoice within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar. $________________ B. What account is debited by Barans Company to record the return? Options are: 1. Accounts Payable 2. Accounts Receivable 3. Cash 4. Merchandise Inventory 5. Purchases 6. Sales 7. Sales Returns and AllowancesNieman Company purchased merchandise on account from Springhill Company for $12,100, terms 2/10, n/30. Nieman returned merchandise with an invoice amount of $2,800 and received full credit. a. If Nieman Company pays the invoice within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar. b. What account is debited by Nieman Company to record the return?
- Barans Company purchased merchandise on account from Springhill Company for $10,600, terms 2/10, n/30. Barans returned merchandise with an invoice amount of $2,200 and received full credit. a. If Barans Company pays the invoice within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar. b. What account is debited by Barans Company to record the return?Flounder Company purchased merchandise on account from a supplier for $32,100, terms 2/10, n/30. Flounder Company returned $8,600 of the merchandise and received full credit. a. If Flounder Company pays the invoice within the discount period, what is the amount of cash required for the payment? EE 6-2 p. 288 SHOW ME HOW b. What account is credited by Flounder Company to record the return?Leno Company sells goods to the Fallon Company for $15,000. . It offers credit terms of 3/10, n/30. If Fallon Company pays the invoice within the discount period, Leno Company will record a debit to Cash in the amount of: A. $14,550. B. $15,000. C. $15,450. D. $450. thanks