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RoseWind [281]
3 years ago
5

A company purchased $3,600 worth of merchandise. transportation costs were an additional $315. the company later returned $250 w

orth of merchandise and paid the invoice within the 3% cash discount period. the total amount paid for this merchandise is:
Business
1 answer:
Anestetic [448]3 years ago
6 0

Answer: $3,564.50

Explanation:

The total amount that the company will pay for the merchandise is the net cost of the merchandise, less a 3% cash discount, plus the transportation costs. The cash discount normally only applies to the merchandise and not the transportation costs.

The cost of the merchandise is $3,600 less the $250 refund, which equals $3,350. With a 3% cash discount they will pay 97% of this amount, which is $3,249.50. After adding the additional transportation charge of $315, the total amount to be paid is $3,564.50.

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Answer:

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6 0
3 years ago
Madrid Company plans to issue 9% bonds with a par value of $5,300,000. The company sells $4,770,000 of the bonds at par on Janua
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Answer and Explanation:

The journal entry are as follows

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= $4,770,000 × 9%  × 6 months ÷ 12 months

= $214,650

For recording this we debited the interest expense as it increased the expenses while on the other hand the cash is paid which reduced the cash balance so it is credited

2. Cash $530,000

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Answer:

The correct answer is letter "E": "A" and "B".

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