XYZ Company purchased inventory worth $50,000 on credit and later paid off the amount within the discount period. The terms were 2/10, net 30. Calculate the amount paid by XYZ Company after considering the discount
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XYZ Company purchased inventory worth $50,000 on credit and later paid off the amount within the discount period. The terms were 2/10, net 30. Calculate the amount paid by XYZ Company after considering the discount.
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- If a retailer purchased inventory in the amount of $750, terms 2/10, n/60, returned $30 of the inventory for a full refund, and received an allowance for $95, how much would the discount be if the retailer remitted payment within the discount window?If a customer purchased merchandise in the amount of $340, terms 3/10, n/30, returned $70 of the inventory for a full refund, and received an allowance for $65, how much discount would be applied if the customer remitted payment within the discount window?If a retailer purchased inventory in the amount of $680, terms 3/10, n/60, returned $120 of the inventory for a full refund, and received an allowance for $70, how much would the discount be if the retailer remitted payment within the discount window?
- If a retailer made a purchase in the amount of $350 with credit terms of 2/15, n/60. What would the retailer pay in cash if they received the discount?XYZ Company purchased inventory worth $50,000 on credit terms of 2/10, n/30. Calculate the amount XYZ Company would pay if they settle the invoice within the discount period.XYZ Company purchased inventory worth $10,000 on credit with terms of 2/10, net 30. The company pays the invoice within the discount period. Calculate the amount paid and the cost of inventory if the company takes the discount.
- PQR Corporation purchased inventory worth $20,000 on credit. The terms of the credit are 2/10, net 30. If the company pays within the discount period, calculate the amount of cash payment and the amount of discount received.Account PQR Corporation purchased inventory worth $20,000 on credit. The terms of the credit are 2/10, net 30. If the company pays within the discount period, calculate the amount of cash payment and the amount of discount received.A company purchased inventory worth $50,000 on credit. The terms of the credit are 2/10, net 30. The company decides to take advantage of the discount and pays within the discount period. Calculate the amount paid by the company and the journal entry to record the transaction.
- XYZ Company purchased inventory worth $50,000 on credit with payment terms of 30 days. The company uses the perpetual inventory system. Calculate the journal entry to record the purchase and subsequent payment after 20 days, assuming a 5% cash discount is offered for early payment.Hoffman Company purchased merchandise on account from a supplier for $65,000, terms 1/10, n/30. Hoffman Company returned $7,500 of the merchandise and received full credit.a. If Hoffman Company pays the invoice within the discount period, what is the amount of cash required for the payment?b. What account is debited by Hoffman Company to record the return?A Retailer purchased merchandise inventory with an invoice price of RO 80,000 and credit terms are 2/10, n/30. What is the net cost of the goods assuming that if the retailer made the payment within the discount period?