Web11 feb. 2024 · Determine the amount of cash paid for merchandise. See answer Advertisement Advertisement haseebkhuhro256 haseebkhuhro256 Answer: Cash paid 168,000. Explanation: Assuming that there were no inventory at start of the year. ... Cash paid for merchandise = total purchase - increase in liability. Cash paid = 176-8 = 168. … WebIn the gross method, we record the merchandise inventory at the original invoice amount. Below is the journal entry under gross method: In the net method, we record the purchase at the amount less the purchase discounts. From the …
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Web15 dec. 2024 · Finally, calculate credit sales by finding the difference. So the credit sales can be calculated as (cash received - initial accounts receivable + ending accounts receivable). In the example above, it would be $20000 - $10000 + $5000 = $15000. So the credit sales would be $15000 for the year. [4] X Research source. Web7 apr. 2024 · Friday April 7th marks the 6 year anniversary of the release of Colossal, which was the first project Legion M ever got involved with. We thought it might be useful to share a little detail about the economics of that project, and compare it to our most recent project, You Can Call Me Bill. BACKGROUND To date Legion M has been involved with 9 films … finlandia university academic calendar
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Web9 apr. 2024 · A PECK OF TROUBLE 19.5X15.5" ARTWORK Additional Item Details: Please note that all items ship within five business days of payment. Business days are Mondays to Fridays and we do not include Saturdays, Sundays, or major holidays that we are closed as part of the five day total. Please use the shipping calculator to calculate your … Web25 okt. 2024 · OBJ. 2. Merchandise is sold on account to a customer for $56,500, terms FOB shipping point, 2/10, n/30. The seller paid the freight of $2,100. Determine the following: (a) amount of the sale, (b) amount debited to Accounts Receivable, and (c) amount received within the discount period. Web12 apr. 2024 · To calculate the cash discount, the formula uses the price and the rate. The formula reads: Cash Discount = Purchase Price x Discount Rate. finlandia tonic