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Kipish [7]
3 years ago
11

Platen purchased inventory on August 17 and received an invoice with a list price amount of $5,900 and payment terms of 4/10, n/

30. Platen uses the net method to record purchases. For what amount should Platen record the purchase
Business
1 answer:
ch4aika [34]3 years ago
7 0

Answer:

$5,664

Explanation:

Calculation of the amount that Platen should record the purchase.

Using this formula

List price -(Percentage of payment term × list price)

Let plug in the formula

$5,900 -(4%×5,900 )

=$5,900-$236

=$5,664

Therefore Platen should record the purchase on August 17 as a:

Debit to Purchases (periodic system) and a Credit to Accounts Payable for $5,664

Therefore the amount that Platen should record the purchase will be $5,664

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Answer:

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3 years ago
A company launched four new products. The market price, in dollars, of the four products after different number of years is show
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<span>anonymous 2 years ago</span><span>A company launched four new products. The market price, in dollars, of the four products after different number of years is shown below: The price of which product will eventually exceed all others?</span>
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When reconciling a bank account, which one of the following is considered a timing difference (difference between the bank balan
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