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
AlladinOne [14]
3 years ago
13

Tamarisk, Inc. sells merchandise on account for $7400 to Cheyenne Corp. with credit terms of 2/15, n/30. Cheyenne Corp. returns

$1700 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check
Business
2 answers:
serg [7]3 years ago
7 0

Answer:

   Bank                                                       $5586  

Explanation:

In the books of Tamarisk Inc

Sr. No                Particulars                          Debit          Credit

1                        Accounts Receivable        $ 7400

                             Sales                                                $ 7400

2              Sales                                 $ 7400

                     Sales Returns                                       $ 1700

                     Sales Discount                                         $ 144

                      Bank                                                       $5586  

WORKING:

The amount of Check

Credit Sales Less Sales Returns= $ 7400- $ 1700= $ 5700

Sales Discount =2% of Credit Sales= 2% of $ 5700= $ 114

Bank Amount = Credit Sales less Sales Discount= $ 5700- $ 114= $ 5586

Vera_Pavlovna [14]3 years ago
5 0

Answer: $5,586

Explanation:

Tamarisk, Inc. sells merchandise on account for $7,400 to Cheyenne Corp. with credit terms of 2/15, n/30

Returned goods worth $1700 of merchandise that was damaged.

Total purchase. $7,400

Less: Return. ($1,700)

Net purchases. $5,700

Made pmt within the discount period of 15 days at 2% discount

Purchases of $5,700 x 2%. = $114

Total amount paid for the purchase is $5,700 - $114 = $5,586

You might be interested in
In your own opinion, why do you think it is important to establish a daily job search routine?
Alenkinab [10]

The answer is: because every day there is more opportunities opening up

You will never know where a company will post a job opportunities that provide better conditions or salaries compared to the job that you currently had. Because of this, you need to keep expanding your networks and setting up routine job search schedule.

5 0
3 years ago
Read 2 more answers
During the current period, Roberts recognized interest expense of $9,400 and paid interest of $9,000 related to its discounted b
VARVARA [1.3K]

Answer:

amortization on discount on BP 400

Explanation:

When there is a difference between the face value and the issuance proceeds from the bond a premium or discount is created.

When the proceeds are above, there will be a premium and the interest expense will be lower thant the actual cash outlay on the bond.

When theface value is above the proceeds, there is a discount.and expenses are higher than cash payment to bondholders.

In this case the expense is higher so there is a discount.

6 0
3 years ago
Aggregate supply is best described as the
VladimirAG [237]

Answer:

Total output of all products and services.

Explanation:

Aggregate supply is defined as the total amount of goods and services that firms are willing to sell, at a specific price, within a particular economy.

Aggregate supply is a macroeconomic concept, an aggregate variable, that is used in Keynesian and Neoclassical economics, often in models that put it together with aggregate demand, in what is known as the Aggregate Supply-Aggregate Demand model (AS-AD model).

5 0
3 years ago
What were the goals of the truman doctrine and marshall plan?
Colt1911 [192]
The goal was to help rejuvenate Europes among with other countries economic, political, and social status and to build them back up after WWII, not only that but it was more of. Humanitarian deed, to help those in need and to help them rebuild their lives.
3 0
3 years ago
What does it mean to have dependability skills mean?​
EastWind [94]

Answer:  Dependability is defined as the quality of being able to be counted on or relied upon. When you always do everything that you say you will and never make promises you cannot keep, this is an example of dependability. YourDictionary definition and usage example.

Explanation:

7 0
3 years ago
Read 2 more answers
Other questions:
  • Employers can try to overcome the moral-hazard problem involving their employees by:
    13·1 answer
  • $1,621,000 and will produce $307,000 per year in years 5 through 15 and $570,000 per year in years 16 through 25. The U.S. gold
    8·1 answer
  • Chris and Karen are married and own a three- bedroom home in a large Midwestern city. Their son, Christian, attends college away
    5·1 answer
  • What would happen to the equilibrium price and quantity of lattés if coffee shops began using a machine that reduced the amount
    11·1 answer
  • __________is the ability to increase or decrease resources for any given workload. You can add additional resources to service a
    13·2 answers
  • If you leave your job when should you notify a DSO so that CPT can be removed from your record? It is the responsibility of the
    12·1 answer
  • A company has the following information. What is the financial leverage ratio? Total assets $736,000 Total liabilities 314,000 I
    9·1 answer
  • When a manager speaks to an employee, the employee pays the most attention to: Nonverbal communication Verbal communication
    12·1 answer
  • At the end of the closing process, Income Summary will hold a balance.
    14·1 answer
  • Describe how hrd is linked to the overall goals and strategies of an organization
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!