You place an order for 470 units of inventory at a unit price of $175. The supplier offers terms of 2/15, net 90. a-1. How long do you have to pay before the account is overdue? a-2. If you take the full period, how much should you remit? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b-1. What is the discount being offered?
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- You place an order for 310 units of inventory at a unit price of $160. The supplier offers terms of 1/15, net 90. a-1. How long do you have to pay before the account is overdue? Days until overdue days a-2. If you take the full period, how much should you remit? (Omit "$" sign In your response.) Remittance $ b-1. What is the discount being offered? Discount offered Remittance b-2. How quickly must you pay to get the discount? Number of days days b-3. If you do take the discount, how much should you remit? (Omit "$" sign in your response.) %6 $ c-1. If you don't take the discount, how much interest are you paying implicitly? (Omit "$" sign in your response.) Implicit interest $ c-2. How many days' credit are you receiving? Days' credit daysOn June 1, Sabrex Electric bought $7,500 of goods with terms of 3/15, n/45. Required:Fill in the blanks below with dollar amounts, if any are appropriate. If an ending balance is 0, enter 0.(Use the net price method for items a. and b. below.) a. If payment was made on June 15, Sabrex would debit Accounts Payable for $fill in the blank 1. b. If payment was made on July 3, Sabrex would debit Purchase Discounts Lost for $fill in the blank 2.(Use the gross price method for c. and d. below.) c. If payment is made on June 15, Sabrex would credit Cash for $fill in the blank 3. d. Assuming no payment had yet been made, Sabrex would debit Purchase Discounts Lost for $fill in the blank 4 in the adjusting entry at July 31 (fiscal year-end).You receive an invoice for $18,300 with terms of 5/15, n/60. If the supplier has a policy of allowing a cash discount for partial payments and you pay $11,500 within the discount period, calculate the amount of credit you will receive for this payment. a) $12,105.26 b) $12,105.0 c) $12.105
- An invoice for $589 is dated June 19, discount 4/20. Shipping charges are FOB shipping point for the cost of $23.75. If the buyer does not want to avail of the discount, when is the last day that he can pay? Group of answer choices July 29 August 26 June 9 June 27A retailer buys merchandise from a supplier with an invoice amount of $12,400. The terms of the sale are 5/20, n/30. What is the net amount due (in $) on the order if the bill is paid by the 20th day? Need Help? Food Watch tA retailer buys merchandise from a supplier with an invoice amount of $12,800. The terms of the sale are 6/20, n/30. What is the net amount due (in $) on the order if the bill is paid by the 20th day? $ 12,672 Need Help? Read It Watch It Master It
- H3. A retailer purchases some merchandise with an invoice price of $19,100 and terms of sale of 5/15, n/45. What is the net amount due (in $) on the order if a partial payment of $10,800 is made on the 15th day? (Round your answer to the nearest cent.) Please show proper step by step calculation with detailsif merchandise is sold on account to a customer for 1,000 terms fob shipping point 1/10, n/30, and the seller prepays $50 in freight, the amount of the discount for early payment would be?A large retailer obtains merchandise under the credit terms of 3/10, net 30, but routinely takes 50 days to pay its bills. (Because the retailer is an important customer, suppliers allow the firm to stretch its credit terms.) What is the retailer's effective cost of trade credit? Assume a 365-day year. Do not round intermediate calculations. Round your answer to two decimal places. Don't use Excel
- BUS 038 : Business Computations7. For terms of 8/10, n/60 determine the annual rate you, in effect, pay the supplier if you fail to pay the invoice at the end of the discount period. Express the rate with 2 decimal places. 8. An invoice for $75.20 has terms of 3/10, 1/30, n/60. If you make payment 25 days after the invoice date, what amount should you pay? 9. You purchase goods on an invoice dated July 5 with terms of 4/15, n/45 ROG. If you receive the goods on July 23, calculate (a) the last day of the discount period, and (b) the last day of the credit period. b. Last day of credit period:An invoice for furniture for $1, 210.88 with terms of 2/10, n/60 is dated October 3. A. What is the last day on which cash discount may be taken? B. If paid within discount period, how much is the cash discount? C. If the discount is missed, on what day does the credit period end?Direction: Complete the Table. Compute what is asked for. Give the exact amount. Use PESO SIGN. NO DECIMAL PLACES. ROUND-OFF Nearest peso. If your answer is NONE OR ZERO, PUT a 0 on the space. Name of Buyer Cost of Merchandise Trade Discount Cash Discount Date of Purchase Date Paid Returns made after 5 days purchase FOB Freight Charges Freight charges paid by Name of Buyer Trade discount, if any Invoice Price (before any reams) Purchase discount to be recorded upon payment Amount of Cash (payment) to be credited Company Aster 320,000 12% 1/10, n/eom 15-March-10 21-March-10 21,000 Shipping point 4,100 Buyer Company Aster A B C D Company Bougainvillea 65,000 5%,3%,2% 2/eom.n/45 15-Mar-10 25-Mar-10 3,100.00 Shipping point 1,200.00 Buyer Company Bougainvillea E F G T H Company Calabachi 105,000 1/15,2/10, n/eom 15-Mar-10 27-Mar-10 Destination 2,500.00 Seller Company Calabachi I J K L Company Daisy 25,300 P500 discount for every P5,000 purchased 15-Mar-10 16-Mar-10 Destination 1,100 Seller…