Exercise 4-5A (Algo) Cash discounts and purchase returns LO 4-2, 4-3 On April 6, Year 1,...

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Exercise 4-5A (Algo) Cash discounts and purchase returns LO 4-2, 4-3 On April 6, Year 1, Home Furnishings purchased $35,000 of merchandise from Una Imports, terms 3/10, n/45. On April 8, Home returned $7,400 of the merchandise to Una Imports for credit. Home paid cash for the merchandise on April 15, Year 1. Required a. What is the amount that Home Furnishings must pay Una Imports on April 15? b. Record the events in a horizontal statements model. If the element is not affected by the event, leave the cell blank. c. How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April 20, Year 1? d. Record the payment of the merchandise in Requirement (c) in a horizontal statements model. If the element is not affected by the event, leave the cell blank. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D What is the amount that Home Furnishings must pay Una Imports on April 15? Net amount due signment #1 Saved b. Record the events in a horizontal statements model. If the element is not affected by the event, leave the cell blank. c. How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April 20, Year 1? d. Record the payment of the merchandise in Requirement (c) in a horizontal statements model. If the element is not affected by the event, leave the cell blank. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Hel Record the events in a horizontal statements model. If the element is not affected by the event, leave the cell blank. (Enter any decreases to account balanc entry.) HOME FURNISHINGS Effect of Events on the Financial Statements Balance Sheet Income Statement Events + Assets = Liabilities + Stockholders' Equity Net Cash + Inventory Accounts Payable Common Stock + Retained Earnings Revenue - Expenses Income Purchase inventory Return inventory + + + + + + Record discount + Pay accounts payable + < Required A Required C > Exercise 4-5A (Algo) Cash discounts and purchase returns LO 4-2, 4-3 On April 6, Year 1, Home Furnishings purchased $35,000 of merchandise from Una Imports, terms 3/10, n/45. On April 8, Home returned $7,400 of the merchandise to Una Imports for credit. Home paid cash for the merchandise on April 15, Year 1. Required a. What is the amount that Home Furnishings must pay Una Imports on April 15? b. Record the events in a horizontal statements model. If the element is not affected by the event, leave the cell blank. c. How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April 20, Year 1? d. Record the payment of the merchandise in Requirement (c) in a horizontal statements model. If the element is not affected by the event, leave the cell blank. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April 20, Year 1? Payment < Required B Required D > Required A Required B Required C Required D Record the payment of the merchandise in Requirement (c) in a horizontal statements model. If the element is not affected by the event, leave the cell blank. (Enter any c balances with a minus sign. Not all cells require entry.) Events Pay accounts payable HOME FURNISHINGS Effect of Events on the Financial Statements Balance Sheet = Liabilities + Stockholders' Equity Assets Cash + Inventory = Accounts Payable + Common Stock + Retained Earnings Revenue + Income Statement Net Expenses Income < Required C Required D > Exercise 4-5A (Algo) Cash discounts and purchase returns LO 4-2, 4-3 On April 6, Year 1, Home Furnishings purchased $35,000 of merchandise from Una Imports, terms 3/10, n/45. On April 8, Home returned $7,400 of the merchandise to Una Imports for credit. Home paid cash for the merchandise on April 15, Year 1. Required a. What is the amount that Home Furnishings must pay Una Imports on April 15? b. Record the events in a horizontal statements model. If the element is not affected by the event, leave the cell blank. c. How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April 20, Year 1? d. Record the payment of the merchandise in Requirement (c) in a horizontal statements model. If the element is not affected by the event, leave the cell blank. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D What is the amount that Home Furnishings must pay Una Imports on April 15? Net amount due signment #1 Saved b. Record the events in a horizontal statements model. If the element is not affected by the event, leave the cell blank. c. How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April 20, Year 1? d. Record the payment of the merchandise in Requirement (c) in a horizontal statements model. If the element is not affected by the event, leave the cell blank. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Hel Record the events in a horizontal statements model. If the element is not affected by the event, leave the cell blank. (Enter any decreases to account balanc entry.) HOME FURNISHINGS Effect of Events on the Financial Statements Balance Sheet Income Statement Events + Assets = Liabilities + Stockholders' Equity Net Cash + Inventory Accounts Payable Common Stock + Retained Earnings Revenue - Expenses Income Purchase inventory Return inventory + + + + + + Record discount + Pay accounts payable + < Required A Required C > Exercise 4-5A (Algo) Cash discounts and purchase returns LO 4-2, 4-3 On April 6, Year 1, Home Furnishings purchased $35,000 of merchandise from Una Imports, terms 3/10, n/45. On April 8, Home returned $7,400 of the merchandise to Una Imports for credit. Home paid cash for the merchandise on April 15, Year 1. Required a. What is the amount that Home Furnishings must pay Una Imports on April 15? b. Record the events in a horizontal statements model. If the element is not affected by the event, leave the cell blank. c. How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April 20, Year 1? d. Record the payment of the merchandise in Requirement (c) in a horizontal statements model. If the element is not affected by the event, leave the cell blank. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April 20, Year 1? Payment < Required B Required D > Required A Required B Required C Required D Record the payment of the merchandise in Requirement (c) in a horizontal statements model. If the element is not affected by the event, leave the cell blank. (Enter any c balances with a minus sign. Not all cells require entry.) Events Pay accounts payable HOME FURNISHINGS Effect of Events on the Financial Statements Balance Sheet = Liabilities + Stockholders' Equity Assets Cash + Inventory = Accounts Payable + Common Stock + Retained Earnings Revenue + Income Statement Net Expenses Income < Required C Required D >