Question: E. Compute for missing amounts (20 points) Write your final answers on the blank line provided. 1. On December 2, Alice Store purchased merchandise amounting
E. Compute for missing amounts (20 points) Write your final answers on the blank line provided. 1. On December 2, Alice Store purchased merchandise amounting to $20,000 on credit terms 5/10, n/25. a. If the account is paid on December 12, how much is the cash discount? b. If the account is paid on December 12, how much is the cash payment? c. If the account is paid on December 15, how much is the cash discount? d. If the account is paid on December 15, how much is the cash payment? 2. On December 5, Jenny Mart purchased $1,800 worth of merchandise on terms 2/10, n/20. On December 7, Jenny Mart returned $200 worth of merchandise. a. If the account is paid on December 15, how much is the cash payment? b. If the account is paid on December 20, how much is the cash payment? 3. On December 10, Linh Store sold merchandise to a customer amounting to $ 8,000 on terms 2/10, n/30 a. If the customer pays on December 20, how much is the cash discount? b. If the customer pays on December 20, how much is the cash receipt? C. If the customer pays on December 30, how much is the cash discount? d. If the customer pays on December 30, how much is the cash receipt? 4 Sean Company has the following account balances on December 31, 2016. Cash = $ 3.000, Accounts Receivable $7.500, Office Supplies - $ 200. Prepaid Rent S 800. Accounts Payable=56500. Unearned Revenue S 1,300. Mortgage Payable $28.700
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