Adding new records, modifying existing ones, and deleting<br> ones no longer needed

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

Scorpion4ik [409]

Answer:

c. $24,990

Explanation:

The Term 2/15 net 45 mean 2% cash discount is offered if the payment is made within 15 days otherwise the credit period is 45 days. There is no after 15 days of sale.

Amount of Sale = $25,500

Discount Rate = 2%

The Pound Co. paid the invoice within the discount period. They are eligible to receive the 2% discount on sale value.

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

Net Sales amount in this transaction = $25,500 - $510

Net Sales amount in this transaction = $24,990

8 0

2 years ago

Rachel wants to display jewelry in her store window in a way that will attract customers. She wants the display to complement an

crimeas [40]

The answer is D because with a light background it would be more easier to see and more attractive

5 0

2 years ago

Read 2 more answers

Which statement correctly describes the current state of instant messaging in the workplace? Multiple Choice It is an establishe

vfiekz [6]

Answer:

It is a relatively new, undeveloped form of communication in the workplace, and attitudes toward it vary.

Explanation:

4 0

2 years ago

Grant Corporation is looking to purchase a building costing $900,000 by paying $300,000 cash on the purchase date, and agreeing

Kazeer [188]

Answer:

hsggsgtsgg hdhwovxgwivogf get zf66#(8 5578£+#8 k35792y6728 77 --(828)51&&#8'

8 0

2 years ago

The following information pertains to Blossom Company.

Dimas [21]

Answer:

A. Adjusted cash balance per bank $13,545

Adjusted cash balance per books $13,545

B. July 31

Dr Cash $2,520

Cr Accounts Receivable $2,520

July 31

Dr Bank service charge $63

Cr Cash $63

Explanation:

A. Preparation of a bank reconciliation at July 31, 2010

PHAROAH COMPANY

Bank Reconciliation

31-Jul-10

Cash Balance per bank statement $10,962

Add: Deposit in transit $4,473

$15,435

Less: Outstanding checks $1,890

Adjusted cash balance per bank $13,545

Cash balance per books $11,088

Add: Electronic fund transfer received $2,520

$13,608

less; Bank service charge $63

Adjusted cash balance per books $13,545

B. Preparation of the adjusting entries at July 31 on the books of Sunland Company.

July 31

Dr Cash $2,520

Cr Accounts Receivable $2,520

(To record electronic fund transfer received by bank)

July 31

Dr Bank service charge $63

Cr Cash $63

(To record bank service charges )

4 0

2 years ago

Adding new records, modifying existing ones, and deleting ones no longer needed