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Chapter 05 Homework (Application) ebook Calculator 1. EX.05.01 ALGO 2 EX 05 00 ALGO 3. EX 05 04 ALGO 4. EX.05.05 Purchase-Related Transactions The debits and credits from four related transactions, (1) through (4), are presented in the following accounts. Assume that the freight terms were FOB shipping point and that the credit terms were 1/10, 1/30. Cash Accounts Payable 150 1.980 (1) 13.860 11,880 11,880 Inventory (1) 13.860 (3) 1.980 150 3. Describe each transaction. 5. EX.05.06 6. EX.05.12 ALGO 7. PR.05.01A BLANKSHEETA. An allowance for return of merchandise was granted by the creditor Paid freight Paid the balance due within the discount period. medin (3) Purchased merchandise on account niet of discount Chapter 05 Homework (Application) eBook Calculator 1. EX.05.01 ALGO 2. EX.05.02 ALGO 3. EX 05.04 ALGO 4. EX 05.05 Purchase-Related Transactions The debits and credits from four related transactions, (1) through (4), are presented in the following accounts. Assume that the freight terms were FOB shipping point and that the credit terms were 1/10, 1/30. Cash Accounts Payable 150 (3) 1,980 (1) 13,860 11,880 (4) 11.BBD Inventory 13,860 (3) 1,980 150 a. Describe each transaction. 1. 5. EX 05 06 6. EX.05.12 ALGO 7. PR.05.01A BLANKSHEETA... An allowance for return of merchandise was granted by the creditor. Pald freight Paid the balance due within the discount period. red in (3) Purchased merchandise on account net of discount. Chapter 05 Homework (Application) ebook Calculator 1. EX 05.01 ALGO 2. EX 05.02. ALGO 3. EX.05.04 ALGO Purchase-Related Transactions The debits and credits from four related transactions, (1) through (4), are presented in the following accounts. Assume that the freight terms were FOB shipping point and that the credit terms were 1/10,n/30. Cash Accounts Payable (2) 150 (3) 1,950 (1) 13.860 11.880 Inventory 13,850 (3) 1,950 (2) 150 4. EX 05.05 5. EX 05 06 6. EX 05.12 ALGO 7. PR.05.01A BLANKSHEETA... a. Describe each transaction 1. 2. 3. An allowance for return of merchandise was granted by the creditor. red in (3) Paid freight Paid the balance due within the discount period. Purchased merchandise on account net of discount Chapter 05 Homework (Application) eBook Calculator 1. EX 05.01 ALGO 2. EX 05.02 ALGO 3. EX.05.04 ALGO 4. EX 05.05 5. EX 05.06 Purchase-Related Transactions The debits and credits from four related transactions, (1) through (4), are presented in the following T accounts, Assume that the freight terms were FOB shipping point and that the credit terms were 1/10, 1/30. Cash Accounts Payable 150 (3) 1,980 (0) 13,860 11,880 Inventory 13,850 (3) 1,980 (2) 150 An allowance for return of merchandise was granted by the creditor. Paid freight Paid the balance due within the discount period. Purchased merchandise on account net of discount 6. EX.05.12 ALGO 7. PR.05.01A BLANKSHEETA... b. Determine the invoice amount of the merchandise that was returned in (3)