Help me with this IXL

A company purchased $10,000 of merchandise on January 5 with terms 2/10, n/30. On January 7, it returned $1,200 worth of merchan

s2008m [1.1K]

Answer:

C. Debit Accounts Payable $8,800; credit Merchandise Inventory, $176; credit Cash $8,624.

Step-by-step explanation:

Data given in the question is inconsistent with the options given.

Terms 2/10, n/30 means there is a discount of 2% is available on payment of due amount within discount period of 10 days after sale with net credit period of 30 days.

Purchases = $10,000

Returns = $1,200

Amount Due = $10,000 - $1,200 = $8,800

As the payment is made after discount period, so no discount will be availed. Full amount of $8,800 will be paid.

A similar and correct question is given below and answer is made accordingly.

A company purchased $10,000 of merchandise on January 5 with terms 2/10, n/30. On January 7, it returned $1,200 worth of merchandise. On January 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on January 12 is:

Debit Accounts Payable $10,000; credit Merchandise Inventory $200; credit Cash $9,800.

Debit Merchandise Inventory $8,800; credit Cash $8,800.

Debit Accounts Payable $8,800; credit Merchandise Inventory, $176; credit Cash $8,624.

Debit Cash $1,600; credit Accounts Payable $1,600.

Debit Accounts Payable $8,624; credit Cash $8,624.

Solution

Terms 2/10, n/30 means there is a discount of 2% is available on payment of due amount within discount period of 10 days after sale with net credit period of 30 days.

Purchases = $10,000

Returns = $1,200

Amount Due = $10,000 - $1,200 = $8,800

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

Discount = $8,800 x 2% = $176

Cash Paid = $8,800 - $176 = $8,624

5 0

3 years ago

Of the people who fished at Clearwater Park today, 48 had a fishing license, 32and did not. Of the people who fished at Mountain

horrorfan [7]

Answer:

The probability that the fisher chosen from Clearwater did not have a license and the fisher chosen from Mountain View had a license is 0.32.

Step-by-step explanation:

Denote the events as follows:

<em>X</em> = a fisher at Clearwater Park had a fishing license

<em>Y</em> = a fisher at Mountain View Park had a fishing license

The two events are independent.

The information provided is:

n (X) = 48

n (X') = 32

n (Y) = 72

n (Y') = 18

Then,

N (X) = n (X) + n (X')

= 48 + 32

= 80

N (Y) = n (Y) + n (Y')

= 72 + 18

= 90

Compute the probability that the fisher chosen from Clearwater did not have a license and the fisher chosen from Mountain View had a license as follows:

$P(X'\cap Y)=P(X')\times P(Y)$

$=\frac{n(X')}{N(X)}\times \frac{n(Y)}{N(Y)} \\\\=\frac{32}{80}\times\frac{72}{90}\\\\=0.32$

Thus, the probability that the fisher chosen from Clearwater did not have a license and the fisher chosen from Mountain View had a license is 0.32.

7 0

4 years ago

1 4 6 60 7 9 10TIME REMAIN41:42For a snack, Sameer ate a plum with 32 calories and several strawberries with 4 calories each. If

Alex777 [14]

Well, if Sameer's plum was 32 calories, and we know his total snack was 56 calories, all we have to do is:

56-32=24

24 / 4 = 6

Sameer ate one plum (32Kcal) and 6 strawberries (4Kcal each)

8 0

3 years ago

The product 2 x 3/6 is shown by the fraction

Neko [114]

Answer:

2*3/6 (=2/6=3)

3/3 =1

Your answer is 1

3 0

3 years ago

Gina is making pancakes for breakfast. Each batch of pancakes calls for 1/4 of a teaspoon of salt. Gina has 9/10 of a teaspoon o

nikitadnepr [17]

Divide the total amount she has by how much she needs per batch.

When dividing fractions, flip the second one over and then multiply straight across.

9/10 / 1/4 becomes: 9/10 x 4/1

9/10 x 4/1 = 36/10 = 3 6/10 = 3 3/5

She can make 3 more batches and have 3/5 of a teaspoon left over.

4 0

3 years ago