1.) X sold Y merchandise on account FOB shipping point, 3/10, net 30, for $10,000. X prepaid the $200 shipping charge. Using the perpetual inventory method, which of the following entries will Y make if Y pays within the discount period?Accounts Payable-X, debit $9,900; Cash, credit $9,900Accounts Payable-X, debit $10,000; Transportation In, credit $200; Cash, credit $9,800Accounts Payable-X, debit $9,700; Merchandise Inventory, debit $200; Cash, credit $9,900Accounts Payable-X, debit $9,700; Transportation In, debit $200; Cash, credit $9,9002.) Merchandise with an invoice price of $4,000 is purchased subject to terms of 2/10, n/30, FOB destination. Transportation costs paid by the seller totaled $150. What is the cost of the merchandise, assuming the discount is taken?$4,070$3,920$4,067$4,1503.) A sales invoice included the following information: merchandise price, $1,000; transportation, $200; terms 1/10, n/eom, FOB shipping point. Assuming that a credit for merchandise returned of $300 is granted prior to payment, that the transportation is prepaid by the seller, and that the invoice is paid within the discount period, what is the amount of cash received by the seller?$693$893$990$7004.) X sold Y merchandise on account FOB shipping point, 2/10, net 30, for $10,000. X prepaid the $200 shipping charge. Which of the following entries does X make to record this sale?Accounts Receivable debit $9,800; Sales credit $9,800; Accounts Receivable debit $200; Cash credit $200Accounts Receivable debit $10,400; Sales credit $10,400Accounts Receivable debit $10,000; Sales credit $10,000Accounts Receivable debit $10,000; Sales credit $10,000; Transportation Out debit $200; Cash credit $200
1.) X sold Y merchandise on account FOB shipping point, 3/10, net 30, for $10,000. X prepaid the $200 shipping charge. Using the perpetual inventory method, which of the following entries will Y make if Y pays within the discount period?Accounts Payable-X, debit $9,900; Cash, credit $9,900Accounts Payable-X, debit $10,000; Transportation In, credit $200; Cash, credit $9,800Accounts Payable-X, debit $9,700; Merchandise Inventory, debit $200; Cash, credit $9,900Accounts Payable-X, debit $9,700; Transportation In, debit $200; Cash, credit $9,9002.) Merchandise with an invoice price of $4,000 is purchased subject to terms of 2/10, n/30, FOB destination. Transportation costs paid by the seller totaled $150. What is the cost of the merchandise, assuming the discount is taken?$4,070$3,920$4,067$4,1503.) A sales invoice included the following information: merchandise price, $1,000; transportation, $200; terms 1/10, n/eom, FOB shipping point. Assuming that a credit for merchandise returned of $300 is granted prior to payment, that the transportation is prepaid by the seller, and that the invoice is paid within the discount period, what is the amount of cash received by the seller?$693$893$990$7004.) X sold Y merchandise on account FOB shipping point, 2/10, net 30, for $10,000. X prepaid the $200 shipping charge. Which of the following entries does X make to record this sale?Accounts Receivable debit $9,800; Sales credit $9,800; Accounts Receivable debit $200; Cash credit $200Accounts Receivable debit $10,400; Sales credit $10,400Accounts Receivable debit $10,000; Sales credit $10,000Accounts Receivable debit $10,000; Sales credit $10,000; Transportation Out debit $200; Cash credit $200
1.) X sold Y merchandise on account FOB shipping point, 3/10, net 30, for $10,000. X prepaid the $200 shipping charge. Using the perpetual inventory method, which of the following entries will Y make if Y pays within the discount period?Accounts Payable-X, debit $9,900; Cash, credit $9,900Accounts Payable-X, debit $10,000; Transportation In, credit $200; Cash, credit $9,800Accounts Payable-X, debit $9,700; Merchandise Inventory, debit $200; Cash, credit $9,900Accounts Payable-X, debit $9,700; Transportation In, debit $200; Cash, credit $9,9002.) Merchandise with an invoice price of $4,000 is purchased subject to terms of 2/10, n/30, FOB destination. Transportation costs paid by the seller totaled $150. What is the cost of the merchandise, assuming the discount is taken?$4,070$3,920$4,067$4,1503.) A sales invoice included the following information: merchandise price, $1,000; transportation, $200; terms 1/10, n/eom, FOB shipping point. Assuming that a credit for merchandise returned of $300 is granted prior to payment, that the transportation is prepaid by the seller, and that the invoice is paid within the discount period, what is the amount of cash received by the seller?$693$893$990$7004.) X sold Y merchandise on account FOB shipping point, 2/10, net 30, for $10,000. X prepaid the $200 shipping charge. Which of the following entries does X make to record this sale?Accounts Receivable debit $9,800; Sales credit $9,800; Accounts Receivable debit $200; Cash credit $200Accounts Receivable debit $10,400; Sales credit $10,400Accounts Receivable debit $10,000; Sales credit $10,000Accounts Receivable debit $10,000; Sales credit $10,000; Transportation Out debit $200; Cash credit $200
1.) X sold Y merchandise on account FOB shipping point, 3/10, net 30, for $10,000. X prepaid the $200 shipping charge. Using the perpetual inventory method, which of the following entries will Y make if Y pays within the discount period?Accounts Payable-X, debit $9,900; Cash, credit $9,900Accounts Payable-X, debit $10,000; Transportation In, credit $200; Cash, credit $9,800Accounts Payable-X, debit $9,700; Merchandise Inventory, debit $200; Cash, credit $9,900Accounts Payable-X, debit $9,700; Transportation In, debit $200; Cash, credit $9,9002.) Merchandise with an invoice price of $4,000 is purchased subject to terms of 2/10, n/30, FOB destination. Transportation costs paid by the seller totaled $150. What is the cost of the merchandise, assuming the discount is taken?$4,070$3,920$4,067$4,1503.) A sales invoice included the following information: merchandise price, $1,000; transportation, $200; terms 1/10, n/eom, FOB shipping point. Assuming that a credit for merchandise returned of $300 is granted prior to payment, that the transportation is prepaid by the seller, and that the invoice is paid within the discount period, what is the amount of cash received by the seller?$693$893$990$7004.) X sold Y merchandise on account FOB shipping point, 2/10, net 30, for $10,000. X prepaid the $200 shipping charge. Which of the following entries does X make to record this sale?Accounts Receivable debit $9,800; Sales credit $9,800; Accounts Receivable debit $200; Cash credit $200Accounts Receivable debit $10,400; Sales credit $10,400Accounts Receivable debit $10,000; Sales credit $10,000Accounts Receivable debit $10,000; Sales credit $10,000; Transportation Out debit $200; Cash credit $200
