Current Attempt in Progress Oriole Company earns 11% on an investment that will return $360,000 8...

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Current Attempt in Progress Oriole Company earns 11% on an investment that will return $360,000 8 years from now. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the amount Oriole should invest now to earn this rate of return? (Round answer to 2 decimal places, e.g. 5,275.25.) Oriole Company should invest $ The following transactions are for Marin Company. 1. 2. 3. On December 3, Marin Company sold $516,800 of merchandise to Cullumber Co., on account, terms 3/10, n/30. The cost of the merchandise sold was $310,100. On December 8, Cullumber Co. was granted an allowance of $23,300 for merchandise purchased on December 3. On December 13, Marin Company received the balance due from Cullumber Co. (a) Prepare the journal entries to record these transactions on the books of Marin. Marin uses a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit (b) Assume that Marin Company received the balance due from Cullumber Co. on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan, 2 Debit Credit Current Attempt in Progress Oriole Company earns 11% on an investment that will return $360,000 8 years from now. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the amount Oriole should invest now to earn this rate of return? (Round answer to 2 decimal places, e.g. 5,275.25.) Oriole Company should invest $ The following transactions are for Marin Company. 1. 2. 3. On December 3, Marin Company sold $516,800 of merchandise to Cullumber Co., on account, terms 3/10, n/30. The cost of the merchandise sold was $310,100. On December 8, Cullumber Co. was granted an allowance of $23,300 for merchandise purchased on December 3. On December 13, Marin Company received the balance due from Cullumber Co. (a) Prepare the journal entries to record these transactions on the books of Marin. Marin uses a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit (b) Assume that Marin Company received the balance due from Cullumber Co. on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan, 2 Debit Credit