1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
barxatty [35]
3 years ago
12

Juniper Company uses a perpetual inventory system. The company purchased $9,750 of merchandise on August 7 with terms 1/10, n/30

. On August 11, it returned $1,500 worth of merchandise. On August 16, it paid the full amount due. The amount of the cash paid on August 16 equals _____
Business
1 answer:
kozerog [31]3 years ago
8 0

Answer:

Amount of cash paid on Aug 16 = <u>$8,167.50</u>

Explanation:

As for the information provided the terms of purchase are,

1% discount if payment made within 10 days,

and a total credit period of 30 days without any discount beyond 10 days.

Here, inventory purchased on August 7 = $9,750

Less; Return on 11 August = $1,500

Net Purchases = $8,250

Since payment is made on 16 August that is within 10 days from purchase discount will be received

= $8,250 \times 1% = $82.50

Amount of cash paid on Aug 16 = $8,250 - $82.50 = $8,167.50

You might be interested in
Job 543 started on june 1 and finished on july 15. Total cost on july 1 was​ $10,800, and the costs added in july were​ $164,300
Snowcat [4.5K]

Answer:

$175,100

Explanation:

Job 523 started on June 1 and ended on July 15

The total cost on July 15 was 10,800

The cost added in July was 164,300

Therefore the debit to cost of goods sold can be calculated as follows.

= 10,800 + 164,300

= 175,100

Hence the debit to cost of goods sold is $175,100

4 0
3 years ago
You missed writing down a transaction but your account indicates you spent your entire cleaning budget of $750. Your other trans
Klio2033 [76]

Answer:

Explanation:

a) $90

b)$111

c)$136

d)$148

4 0
3 years ago
Compare and contrast the risks and goals of entrepreneurs and inventors.
suter [353]

The difference between an inventor and an entrepreneur is that, an inventor develops new services and goods but he does not have them to the market. An entrepreneur risks resources may it be human, capital or natural in order to bring to the market improved and new products.

The risk which is incurred between entrepreneur and inventor is that, entrepreneur undergoes huge financial risks because a lot of money is being invested while inventor has low financial risk since there is no big investment which is being required.


4 0
3 years ago
Read 2 more answers
Luebke Inc. has provided the following data for the month of November. The balance in the Finished Goods inventory account at th
Sliva [168]
D.
221,500 why? because thats the answer
3 0
3 years ago
Read 2 more answers
If you cause a car accident, which type of insurance will require you to pay the least out of pocket? AHigh deductible plan BLow
Vesnalui [34]
A because if the person that you hit says you caused it for a reason
3 0
3 years ago
Read 2 more answers
Other questions:
  • The last time an attorney addresses a jury is during the
    11·2 answers
  • What is NOT true about a home filing system? It should be kept in a dry area with good air circulation. It is a place to keep al
    13·1 answer
  • The ABC Company sells plastic model cars in retail stores primarily to hobbyists. It has decided to modify the cars’ exterior pa
    5·1 answer
  • Piper Corporation’s standards call for 1,000 direct labor-hours to produce 250 units of product. During October the company work
    6·1 answer
  • A firm has a Cobb-Douglas production function for its inputs of capital and labor. The firm is currently paying $4 per labor hou
    12·1 answer
  • West Company borrowed $36,000 on September 1, 2016 from the Valley Bank. West agreed to pay interest annually at the rate of 6%
    9·1 answer
  • On October 31, the stockholders’ equity section of Heins Company consists of common stock $370,000 and retained earnings $904,
    15·1 answer
  • Demand-pull inflation occurs when
    5·2 answers
  • Define the following:<br> 1. Allocation of resources<br> 2. Economic system<br> 3. Market economy
    10·2 answers
  • ABC company decides to invest in training for their workers. Select 3 likely reasons
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!