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tigry1 [53]
3 years ago
8

Dollar Co. sold merchandise to Pound Co. on account, $25,500, terms 2/15, net 45. The Pound Co. paid the invoice within the disc

ount period. What is the sales amount to be recorded in the above transactions?
Business
2 answers:
abruzzese [7]3 years ago
4 0

Answer:

Sales revenue = $25,500

sales discount = $510

net sales = $25,500 - $510 = $24,990

Explanation:

The journal entries to record this transaction should be:

XX/YY, merchandise sold on account

Dr Accounts receivable 25,500

    Cr Sales revenue 25,500

The journal entry to record the collection of the account should be:

XY/YY, collection of accounts receivable

Dr Cash 24,990

Dr Sales discount 510

    Cr Accounts receivable 25,500

aksik [14]3 years ago
3 0

Answer:

The sales amount to be recorded in the above transactions is $24,990

Explanation:

Term 2/15, net 45 means there is a discount of 2% available on the sale amount to the customers who will pay withing 15 days after sale with net credit period of 45 days.

As Pound Co paid the invoice with the discount period so, they will be eligible to claim the discount.

Discount amount = 25,500 x 2% = $510

Net Sales amount = $25,500 - $510 = $24,990

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What is 30% of 3/5​
Setler79 [48]

Answer: Solution for What is 30 percent of 3/5

30 percent *3.50 =

(30:100)*3.50 =

(30*3.50):100 =

105:100 = 1.05

Now we have: 30 percent of 3.50 = 1.05

Question: What is 30 percent of 3.50?

Percentage solution with steps:

Step 1: Our output value is 3.50.

Step 2: We represent the unknown value with $x$x​.

Step 3: From step 1 above,$3.50=100\%$3.50=100%​.

Step 4: Similarly, $x=30\%$x=30%​.

Step 5: This results in a pair of simple equations:

$3.50=100\%(1)$3.50=100%(1)​.

$x=30\%(2)$x=30%(2)​.

Step 6: By dividing equation 1 by equation 2 and noting that both the RHS (right hand side) of both

equations have the same unit (%); we have

$\frac{3.50}{x}=\frac{100\%}{30\%}$

3.50

x​=

100%

30%​​

Step 7: Again, the reciprocal of both sides gives

$\frac{x}{3.50}=\frac{30}{100}$

x

3.50​=

30

100​​

$\Rightarrow x=1.05$⇒x=1.05​

Therefore, $30\%$30%​ of $3.50$3.50​ is $1.05$

Explanation:

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