Business Maths

posted by .

Leeann Company sold merchandise on credit to Janelle Company for $1,000 on July 1, with terms of 2/10, net /30. On July 6, Janelle returned $200 worth of merchandise claiming the materials was defective. On July 8, Leeann received a payment from Janelle and credited Accounts Receivable for $450. On July 24, Janelle Company paid the remaining balance on their account. What was the total cash received from Janelle during July?
Can anyone please explain how to calculate this prooblem.

  • Business Maths -

    1000 - 200 = 800

  • Business Maths -

    16. You receive an invoice for $565.00 with terms 3/10, net 30. If you pay it immediately, how much will you pay?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Accounting urgent

    Prepare the journal entries to record the following transactions on Panther Company’s books using a perpetual inventory system. (For multiple debit/credit entries, list accounts in order of magnitude.) (a) On March 2 Panther Company …
  2. accounting

    Question 2.) Hawkeye Electric Company engaged in the following transactions during July. July 2 – Purchased inventory for cash, $800 July 5 – Purchased store supplies on credit terms of net eom, $600. July 8 – Purchased inventory …
  3. accounting

    Santa Fe Company purchased merchandise for resale from Mesa COmpany with an invoice price of $24,000 and credit terms of 3/10,n/60. The merchandise had cost Mesa $16,000. Santa Fe paid within the discount period. Prepare entries that …
  4. accounting

    A company purchased $4,000 worth of merchandise. Transportation costs were an additional $350. The company later returned $250 worth of merchandise and paid the invoice within the 2% cash discount period. What is the total amount paid …
  5. Math

    The Higgins Company sold the Northwest Company some machinery parts. The net price was $10,000, and the terms were 3 / 10 , n / 60. The items were shipped FOB shipping point and the shipping charges were $100. The date of the invoice …
  6. accounting

    Write the journal entries to record the following transactions. A) Sold merchandise on account, $11,000, terms 2/10, net 30. The cost of merchandise sold was $8,000 (2 entries required). B) Issued a credit memorandum for $500 to the …
  7. FND 154 Fundamentals of Accounting

    Harwick Company Exercise 5-2 1. on April 5, purchased merchandise from Botham Company for $23,000, terms 2/10, net/30, FOB shipping point. 2. on April 6, paid freight costs of $900 on merchandise purchased from Botham. 3.on April 7, …
  8. Accounting

    Hawkeye Electric Company engaged in the following transactions during July. Journalize the preceding transactions on the books of Hawkeye Electric Company using the perpetual system of inventory. July 2 – Purchased inventory for …
  9. Accounting

    XO company sold merchandise on account to Brandy company, $14000 , terms FOB shipping point, 2/10, n/30. XO company paid transportation costs of $350, which were added to the invoice. The cost of the merchandise sold was $8000
  10. Accounting

    Zell Company had sales of $1,800,000 and related cost of merchandise sold of $1,150,000 for its first year of operations ending December 31, 2016. Zell Company provides customers a refund for any returned or damaged merchandise. At …

More Similar Questions