Answer:
$100,000
Explanation:
The computation of the amount of cash paid for the purchase of equipment is shown below:
= Ending balance of an equipment + book value of the equipment - beginning balance of an equipment
= $420,000 + $20,000 - $340,000
= $440,000 - $340,000
= $100,000
We simply applied the above formula so that the amount of cash paid for the purchase of the equipment could come
Answer:
$40
Explanation:
The Value to seeing the clubs play the White Sox must be valued at an amount that include the cost price at the minimum.The maximum the value would be $50 (at which any amount above this you will not be willing to accept the ticket).
Answer:
Explanation:
2/10 , n/30 is a credit term arrangement where the seller agrees with the buyer that if payments are made within 10 days after purchase , he will enjoy a 2% discount or otherwise pay the full invoice amount at 30 days.
As Jepson paid on the 18th of the same month which is 9 days after purchase , he is entitled to 2% discount on the sales.
<u>Journal Entry</u>
September 8
Credit Sales - $9,600
Debit receivable = $9,600
September 18
Debit Cash - $9,408
Debit sales discount - $ 192
Credit receivable - $9,600