Up ge-Cenge x SAM-Activity ListxLog McGraw Secure https/ flow/connect.html st Ac

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Up ge-Cenge x SAM-Activity ListxLog McGraw Secure https/ flow/connect.html st Accounting Chapter 4 Help Save& Exit Sub A company purchased $3,500 of merchandise on July 5 with terms 1/10, n/30 On July 7, t returned $385 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals Multiple Choice 385 $3.080 $3.084 3.115 $3.500 Station defaults to Black and White printing on PrinterE For COLOR prints: 1) Select Printer D from the Printer Drop-Down List in the Print Dialog Box. 2) Click on the Properties button 3) in the "Color/Black &White;" Drop Down List, select elor. ARY

Explanation / Answer

2 Merchandise purchased 3500 Merchandise returned 385 net amount 3115 Discount (3115*1%) 31 Cash paid 3084 3 Merchandise purchased 3500 Transportation cost 310 Total 3810 Merchandise returned 240 net amount 3570 Discount 65.20 (3500-240)*2% Cash paid 3504.80 4 Gross sales 150200 Less Sales discounts 2250 Less Sales return 3605 Net sales 144345 5 Gross sales 830000 Less Sales discounts 12450 Less Sales return and allowance 18675 Net sales 798875 Less Cost of goods sold 394250 Gross profit 404625

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