Question: On January 1 5 , Tamarisk Wholesale Company sells merchandise on account to Whispering Winds Associates for $ 6 5 0 0 with terms 1

On January 15, Tamarisk Wholesale Company sells merchandise on account to Whispering Winds Associates for $6500 with terms 1/10, n/30. On January 20, Whispering Winds returns $900 of this merchandise to Tamarisk. On January 24, payment is received from Whispering Winds for the balance due. What is the amount of cash received?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

On May 1. Crane Company had beginning inventory consisting of 246 units with a unit cost of $5. During May, the company purchased inventory as follows: 492 units at $5 738 units at $6 The company...

Q:

On January 1 5 , Larkspur Wholesale Company sells merchandise on account to Blue Spruce Associates for $ 5 9 0 0 with terms 2 1 0 , n 3 0 . On January 2 0 , Blue Spruce returns $ 1 4 0 0 of this...

Q:

On January 15, Splish Brothers Wholesale Company sells merchandise on account to Flounder Associates for $4500 with terms 2/10, n/30. On January 20, Flounder returns $1100 of this merchandise to...

Q:

1. This information relates to Wildhorse Co. 1. On April 5, purchased merchandise from Sandhill Company for $35,000 on account. 2. On April 7, purchased equipment on account for $36,600. 3. On April...

Q:

Current Attempt in Progress Ayayai Company buys merchandise on account from Whispering Winds Company for $472. Ayayai sells the goods to Ellis for $720 cash. Use a tabular summary to record the...

Q:

On January 1 5 , Sage Hill Wholesale Company sells merchandise on account to Concord Associates for $ 7 8 0 0 with terms 3 / 1 0 , n / 3 0 . On January 2 0 , Concord returns $ 8 0 0 of this...

Q:

On January 15, Acme Wholesale Company sells merchandise on account to Jones Associates for $5,000 with terms 3/10,n/30. On January 20 , Jones returns $1,000 of this merchandise to Acme. On January 24...

Q:

On January 15 , Windsor Wholesale Company sells merchandise on account to Martinez Associates for $7000 with terms 1/10,n/30. On January 20, Martinez returns $900 of this merchandise to Windsor. On...

Q:

I need help with part 10 of the question Question Part A: Case Analysis: Porto Waste Facilities Inc. (PWF) is a large, diversified Canadian-controlled private company with several Canadian and US...

Q:

On January 15, Kingbird Wholesale Company sells merchandise on account to Monty Associates for $5100 with terms 5/10, n/30. On January 20, Monty returns $1000 of this merchandise to Kingbird. On...

Q:

The company purchased the following securities during Year 1: On July 23, Year 2, the company sold all of the shares of security B for a total of $9,500. As of December 31, Year 2, the shares of...

Q:

Consider the DE (1+ye*)dx +(2y + xe)dy=0 then The DE is Hence F(x,y)= and and g')= therfore the general solution of the DE is

Q:

Explain how the concept of specialisation can explain why nations trade with each other.

Q:

The force constant of a massless spring is 2 5 . 0 N / m . A mass of 0 . 4 5 kg is oscillating in simple harmonic motion at the end of the spring

Q:

Prepare journal entries to record the following transactions for Fletcher Corporation. May 15 Declared a $54,000 cash dividend payable to common stockholders. June 31 Paid the dividend declared on...

Q:

Stockholders equity of Ernst Company consists of 80,000 shares of $5 par value, 8% cumulative preferred stock and 250,000 shares of $1 par value common stock. Both classes of stock have been...

Q:

The stockholders equity section of Jun Companys balance sheet as of April 1 follows. On April 2, Jun declares and distributes a 10% stock dividend. The stocks per share market value on April 2 is $20...