Paid freight on purchase of may 3 $600
WebMay 1 Paid rent for May, $5,000. 4 Paid freight on purchase of May 3, $600. 7 Received $22,300 cash from Halstad Co. on account. 10 Sold merchandise for cash, $54,000. The … WebOn April 6, paid freight costs of $1,200 on merchandise purchased from Bach Company. 3. ... Month Budgeted Purchases January $26,800 February 29,000 March 30,520 April 29,480 May 27,680 Purchases are paid for in the following manner: 10% of the purchase amount in the month of purchase.
Paid freight on purchase of may 3 $600
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WebMay 4: Paid freight on purchase of May 3, $600. Description Post. Ref. Debit ... May 21: For the convenience of Crescent Co., paid freight on sale of May 20, $2,300. Description Post. … WebFeb 2, 1999 · As you will see, sometimes you can maximize your profitability by paying the freight. How much is free freight worth? ... Calculate the month’s supply of the vendor’s products that each purchase amount represents. ... $600: 6.25: 606.25: 2,500: $2,500:
WebUsing the purchase transaction from May 4 and no returns, Hanlon pays the amount owed on May 10. May 10 is within the discount period and Hanlon will take the 2% discount provided in the terms 2/10, n30 (remember, this means 2% discount if paid in 10 days of the invoice date otherwise, full amount is due in 30 days). WebPaid freight on Tiger Co. purchases $50. 9: Received credit from Tiger Co. for merchandise returned $100. 10: Sold merchandise on account to customers $600, terms n/30. 12: Purchased golf shoes, sweaters, and other accessories on account from Classic sportswear $450, terms 1/10, n/30. 14: Paid Tiger Co. in full. 17
WebReceived collections in full, less discounts, from customers billed on sales of $2,100 on May 2. 10: Paid Braun's Wholesale Supply in full, less discount. 11: Purchased supplies for cash $400: 12: Purchased merchandise for cash $1,400. 15: received refund for poor quality merchandise from supplier on cash purchase $150. 17: 19: Paid freight on ... WebPASCU FOB D DATE TRANSACTION 06/16/2024 Purchases Accounts Payable To record purchases on account 06/24/2024 Accounts Payable Cash Purchase Discount (6,000x2%) To record payment of account C Shipping terms are FOB shipping point, freight prepaid. Ilano Co. paid the shipping costs on June 16 and added the P600 cost to the invoice sent …
WebFeb 2, 1999 · As you will see, sometimes you can maximize your profitability by paying the freight. How much is free freight worth? ... Calculate the month’s supply of the vendor’s …
WebPlease take a moment to rate the answer if you found it helpful. Thank you! Image transcriptions Palisade Creek Co. Date Particulars Debit (3} Credit (3) May 4 Merchandise … budget walkway ideasWeb2 days ago · - Bill said the City paid $30,000 for all twelve lots, which equals $2,500 per lot. - The Council agrees the offer of $600/lot is low but doesn’t want to set too high of a … budgets generally start with a prediction ofWebThis journal entry will increase both total assets and total liabilities by $5,000 as of January 1 as a result of the $5,000 merchandise purchased on account. And later, when we make the $5,000 cash payment to eliminate the accounts payable that we have recorded on January 1, we can make the journal entry as below: Account. budgie with adam faithWebDuring May, the last month of the fiscal year, the following transactions were completed: Record the following transactions on page 20 of the journal. Paid rent for May, $5,000. … budismo wallpaperWebQuestion Paid rent for May, $5,000. Purchased merchandise on account fromMartin Co., terms 2/10, n/30, FOB shipping point, $36,000. Paidfreight on purchase of May 3, $600. Sold merchandise on account toKorman Co., terms 2/10, n/30, FOB shipping... budgie foot injuryWebNote: The freight paid is deducted from accounts payable and the discount is computed based on the invoice cost of the merchandise. Nature and Accounting for Merchandising Business Return June 4 – Accounts Payable 2, VAT … budsy bowl replacementWeb1. Acquired $53,000 cash from the issue of common stock. 1. Purchased $34,500 of merchandise on account with terms 2/10, n/30. 5. Paid $950 cash for freight to obtain … buds to blooms michigan