On April 6, 2016, Home Furnishings purchased $25,200 of merchandise from Una Imports, terms 2/10 n/45. On April 8, Home returned $2,400 of the merchandise to Una Imports for credit. Home paid cash for the merchandise on April 15, 2016.
Required
a. What is the amount that Home must pay Una Imports on April 15?
b. Record the events in a horizontal statements model like the following one.

c. How much must Home pay for the merchandise purchased if the payment is not made until
April 20, 2016?
d. Record the payment in Requirement c in a horizontal statements model like the one above.
e. Why would Home want to pay for the merchandise by April 15?
 

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Assets Liab. + Equity Rev. Exp. Net Inc. Cash Flow !! Cash Inv. Accts. Pay. C. Stock Ret. Earn. Assets Liab. + Equity Rev. Exp. Net Inc. Cash Flow !! Cash Inv. Accts. Pay. C. Stock Ret. Earn.