Janna’s Fine Flowers sold 105 dozen roses for $600. Terms of the sale were 2/10,n/30. If...

Question

Question

Janna’s Fine Flowers sold 105 dozen roses for $600. Terms of the sale were 2/10,n/30. If...

Janna’s Fine Flowers sold 105 dozen roses for $600. Terms of the sale were 2/10,n/30. If the customer pays within the discount period, the amount of the sales discount will be

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Sales = $600

Credit terms = 2/10, n/30

2% discount will be allowed if payment is made within discount period of 10 days

Discount rate = 2%

Sales discount = Sales x Discount rate

= 600 x 2%

= $12

The amount of the sales discount will be $12

Kindly give a positive rating if you are satisfied with this solution and please ask if you have any query.

Thanks

Add a comment

Answer 2

Similar Homework Help Questions

Sayers Co. sold merchandise on account to a customer for $80,000 terms 2/10, n/30. The cost of the goods sold was $67,000.

Sales-related transactions Sayers Co. sold merchandise on account to a customer for $80,000 terms 2/10, n/30. The cost of the goods sold was $67,000. a. Journalize Sayers' entries to record the sale. b. Journalize the receipt of payment within the discount period. c. Journalize the entry to record the receipt of payment beyond the discount period of ten days.
Inventory costing $3,500 is sold for $4,900 with terms 2/10, n/30. If the buyer pays within...

Inventory costing $3,500 is sold for $4,900 with terms 2/10, n/30. If the buyer pays within the discount period, what amount will be reported on the income statement as net sales? A) $1,400 B) $4,900 C) $3,745 D) $4,802
Merchandise costing $1,800 is sold for $2,800 on terms 2/30, n/60. If the customer pays within the discount period,...

Merchandise costing $1,800 is sold for $2,800 on terms 2/30, n/60. If the customer pays within the discount period, what amount will be reported on the income statement as net sales and as gross profit? Net Sales 8 0040 Gross Pront

2 Inventory costing $4,800 is sold for $6,900 with terms 3/10, n/30. If the buyer pays...

2 Inventory costing $4,800 is sold for $6,900 with terms 3/10, n/30. If the buyer pays within the discount period, what amount will be reported on the income statement as net sales? Multiple Choice oo5931 $6693 eBook $5145 $6.900 $2.100 OO O
Merchandise costing $1,500 is sold for $2,500 on terms 1/30, n/60. If the customer pays within...

Merchandise costing $1,500 is sold for $2,500 on terms 1/30, n/60. If the customer pays within the discount period, what amount will be reported on the income statement as net sales and as gross profit?
Sayers Co. sold merchandise on account to a customer for $80,000 terms 2/10, n/30. The cost...

Sayers Co. sold merchandise on account to a customer for $80,000 terms 2/10, n/30. The cost of the goods sold was $58,000. Journalize Sayers' entries to record (A) the sale, (B) the receipt of payment within the discount period, and (C) the receipt of payment beyond the discount period of ten days. Answer Check Figure: C. $76,500

Merchandise costing $2,500 is sold for $3,500 on terms 1/30, n/60. If the customer pays within...

Merchandise costing $2,500 is sold for $3,500 on terms 1/30, n/60. If the customer pays within the discount period, what amount will be reported on the income statement as net sales and as gross profit? Net sales: Gross profit:
Merchandise costing $2,700 is sold for $3,700 on terms 1/30, n/60. If the customer pays within...

Merchandise costing $2,700 is sold for $3,700 on terms 1/30, n/60. If the customer pays within the discount period, what amount will be reported on the income statement as net sales and as gross profit? Net Sales Gross Profit
inventory costing $4,800 is sold for $6,900 with terms 3/10, n/30. If the buyer pays within...

inventory costing $4,800 is sold for $6,900 with terms 3/10, n/30. If the buyer pays within the discount period, what amount will be reported on the income statement as net sales? a.)$2,100 b.)$5,145 c.)$6,900 d.)$6,693

There were no sale discounts taken Bolton sold a customer service contract with a price of...

There were no sale discounts taken Bolton sold a customer service contract with a price of $41,000 to Sammy's Wholesale Company. Bolton offered terms of 1/10, n/30 and expects Sammy to pay within the discount period. Prepare the journal entry assuming the payment is made after 10 days (after the discount period). If an amount box does not require an entry, leave it blank.

Janna’s Fine Flowers sold 105 dozen roses for $600. Terms of the sale were 2/10,n/30. If...

Homework Answers

Add Answer to:
Janna’s Fine Flowers sold 105 dozen roses for $600. Terms of the sale were 2/10,n/30. If...

Post as a guest

Earn Coins

Sayers Co. sold merchandise on account to a customer for $80,000 terms 2/10, n/30. The cost of the goods sold was $67,000.

Inventory costing $3,500 is sold for $4,900 with terms 2/10, n/30. If the buyer pays within...

Merchandise costing $1,800 is sold for $2,800 on terms 2/30, n/60. If the customer pays within the discount period,...

2 Inventory costing $4,800 is sold for $6,900 with terms 3/10, n/30. If the buyer pays...

Merchandise costing $1,500 is sold for $2,500 on terms 1/30, n/60. If the customer pays within...

Sayers Co. sold merchandise on account to a customer for $80,000 terms 2/10, n/30. The cost...

Merchandise costing $2,500 is sold for $3,500 on terms 1/30, n/60. If the customer pays within...

Merchandise costing $2,700 is sold for $3,700 on terms 1/30, n/60. If the customer pays within...

inventory costing $4,800 is sold for $6,900 with terms 3/10, n/30. If the buyer pays within...

There were no sale discounts taken Bolton sold a customer service contract with a price of...

Janna’s Fine Flowers sold 105 dozen roses for $600. Terms of the sale were 2/10,n/30. If...

Homework Answers

Add Answer to: Janna’s Fine Flowers sold 105 dozen roses for $600. Terms of the sale were 2/10,n/30. If...

Post as a guest

Earn Coins

Add Answer to:
Janna’s Fine Flowers sold 105 dozen roses for $600. Terms of the sale were 2/10,n/30. If...