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
SashulF [63]
3 years ago
11

Waterway Company on July 15 sells merchandise on account to Carla Vista Co. for $4600, terms 3/10, n/30. On July 20 Carla Vista

Co. returns merchandise worth $1600 to Waterway Company. On July 24 payment is received from Carla Vista Co. for the balance due. What is the amount of cash received
Business
2 answers:
cupoosta [38]3 years ago
7 0

Answer:

$2,910

Explanation:

The journal entries recorded by Waterway are:

July 15, merchandise sold on account with terms 3/10, n/30

Dr Accounts receivable 4,600

    Cr Sales revenue 4,600

Dr Cost of goods sold XX

    Cr Merchandise inventory XX

July 20, partial return of merchandise

Dr Sales returns and allowances 1,600

    Cr Accounts receivable 1,600

Dr Merchandise inventory YY

    Cr Cost of goods sold YY

July 24, invoice is collected from Carla Vista

Dr Cash 2,910

Dr Sales discounts 90

     Cr Accounts receivable 3,000

Since Carla Vista paid the invoice within the discount term, it will receive a 3% discount over the remaining balance = $3,000 x 3% = $90

Marianna [84]3 years ago
4 0

Answer:

The amount of cash received is $2,910

Explanation:

Terms of 3/10, n/30 means there is a discount of 3% is available on payment of due amount within discount period of 10 days after sale with net credit period of 30 days.

As per given data

Sale = $4,600

Sales return = $1,600

Receivable = $4,600 - $1,600 = $3,000

As the payment is made within discount period, so discount will be availed on the amount due

Discount = $3,000 x 3% = $90

Payment by Customer = $3,000 - $90 = $2,910

You might be interested in
Although there are advantages and disadvantages to home-based workers for both the employer and employee the disadvantages to em
melomori [17]

Answer:

C. It decreases important social interaction between and among employees on a number of levels, resulting in a change in the social network and corporate culture.

Explanation:

<em>Working from home</em> or freelancing has gained traction nowadays as it is a feasible way to transfer work to home, usually reducing costs and being more convenient for employees (mostly). However, working from home <u>neglects the aspect of socializing</u>, as it brings more alienation to the employee. Communication becomes mostly digital, and in-person contact is minimized.

3 0
3 years ago
For critically ill patients, _____ provide the majority of energy.
valentina_108 [34]
For critically ill patients, FATS AND CARBOHYDRATES provide the majority of energy. Energy is needed by these type of patients to carry out the major functioning of the body such as the beating of the heart, respiration, etc. Energy needed for such work is provided by fats and carbohydrates.
7 0
3 years ago
Nike inadvertently offended Chinese officials when it ran an ad featuring LeBron James crushing a number of revered Chinese figu
topjm [15]

Answer: culture

Explanation:

Culture is the custom, ideas, and the social behaviour of a particular society. For an organization to develop a marketing strategy that is successful, the organization must consider the cultural influences of the people where a new product will be introduced.

People make decisions on the consumption of a product usually on their cultural influences. The Nike advertisement involving Chinese was an example of cultural influences in marketing strategy.

8 0
3 years ago
Spartan Corporation estimates that it will incur $200,000 of total manufacturing overhead cost at an estimated activity level of
bagirrra123 [75]

Answer:

Applied manufacturing overhead is $4,000

Explanation:

Given,

Total manufacturing overhead = $200,000

Activity level = 10,000 DLH

Predetermined overhead rate = \frac{Manufacturing\ overhead\ cost}{Activity\ level}

=\frac{200,000}{10,000}

=$20

Manufacturing overhead applied = predetermined rate × time required

                                                       = 20 × 200

                                                       = $4,000

Therefore, manufacturing overhead of $4,000 is applied to the job.

3 0
3 years ago
Which of the following statements is correct?
kirza4 [7]

Answer:

D

Explanation:

6 0
2 years ago
Other questions:
  • Six months ago, you purchased 300 shares of stock in Global Trading at a price of $26.19 a share. The stock pays a quarterly div
    11·1 answer
  • Custom foot operates six retail locations. at first glance, none looks different from a typical boot store. but here the only bo
    12·2 answers
  • Shanon will pay for an annual gym membership that costs $420.00. She has 152.62 in her checking account. What are the pros and c
    8·1 answer
  • currently, a firm has an EPS of $2.08 and a benchmark PE of 12.7. Earning are expected to grow by 3.8 percent annually. What is
    8·1 answer
  • 19. Colombia produces coffee with less labor and land than any other country; it therefore surely has Select one: a. an absolute
    12·1 answer
  • Among a group of 2,500 people, 35 percent invest in municipal bonds, 18 percent invest in oil stocks, and 7 percent invest in bo
    11·1 answer
  • Gulf Coast Tours currently has a weighted average cost of capital of 12.4 percent based on a combination of debt and equity fina
    7·1 answer
  • Livingston Co. uses process costing to account for the production of elastic bands. Direct materials are added at the beginning
    11·1 answer
  • What are the factor that you need to answer your and selective attention invertors?.elaborate your answer...
    6·1 answer
  • Consider the economies of Hermes and Gobbledigook, both of which produce gaggles of gop using only tools and workers. Suppose th
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!