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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

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Explanation:

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8 0
3 years ago
Bren Company sold a car for $17,100. The cost of the car was $37,000 and the depreciation expense was recorded at 10% for five a
fomenos

The loss on the disposal of the car is $-16,200.

The first step is to determine the total depreciation on the car.

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$37,000 x 0.1 = $3700

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A similar question was answered here: brainly.com/question/24357323

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