Calculate the amount needed to settle each purchase. Renz Aguhob Fireworks engaged in the following purchase...
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Calculate the amount needed to settle each purchase. Renz Aguhob Fireworks engaged in the following purchase transactions during the month. The entity observes the policy that all returns are made one day after the goods are received and that all purchases are paid within the discount period. List Price FOB terms 224,000 Shipping point 126,000 Destination 90,000 Shipping point 41,000 Shipping point 357,000 Destination Freight Purchase 4,000 21,000 9,000 2,000 1,000 14,000 7,000 9,000 24,000 Credit terms Trade discount 2/10, n/30 1/10. n/30 2/10, n/30 n/30 3/10, n/30 30% 20% 25% 20% Calculate the amount needed to settle each purchase. Renz Aguhob Fireworks engaged in the following purchase transactions during the month. The entity observes the policy that all returns are made one day after the goods are received and that all purchases are paid within the discount period. List Price FOB terms 224,000 Shipping point 126,000 Destination 90,000 Shipping point 41,000 Shipping point 357,000 Destination Freight Purchase 4,000 21,000 9,000 2,000 1,000 14,000 7,000 9,000 24,000 Credit terms Trade discount 2/10, n/30 1/10. n/30 2/10, n/30 n/30 3/10, n/30 30% 20% 25% 20%
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To calculate the amount needed to settle each purchase we need to consider the list price FOB terms ... View the full answer
Related Book For
Modern Advanced Accounting In Canada
ISBN: 9781259066481
7th Edition
Authors: Hilton Murray, Herauf Darrell
Posted Date:
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