Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. barans company purchased merchandise on account fr

Barans Company purchased merchandise on account from Springhill Company for $11,700, terms 1/10, n/30. Barans...

50.1K

Verified Solution

Question

Accounting

image
Barans Company purchased merchandise on account from Springhill Company for $11,700, terms 1/10, n/30. Barans retumed merchandise with an invoice amount of $2,800 and received full credit. a. If Barans Company pays the involce within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar. b. What account is debited by Barans Company to record the return

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Which of the following statements is TRUE regarding transcription in most organisms? 1. The RNA template strand...

Medical Sciences
1.2K views

Descriptions of each major types of epidemiologic study: - randomized controlled trial, - cohort, - case-control Strengths for 2...

Biology
1.2K views

Which Cellular Respiration Pathway is the most efficient pathway for making ATP, and why is...

Biology
1.2K views

Which of the following best describes how plants transfer carbon in the carbon cycle?A) Plants...

Physics
1.2K views

a 0 51s c 0 11s b 5 01 s d 2 01 s A...

Physics
1.2K views

A small pendulum bob is released from rest with the string being horizontal The bob...

Physics
1.2K views

m 4 A box with mass m 1 25 kg is attached to a spring...

Algebra
1.2K views

If A B are symmetric matrices and AB BA then AB is also symmetric Select...

Accounting
1.2K views

How to write an executiv summary for McDonald's 10k report

Accounting
1.2K views

Question 6: The materials management department, a service department for the mixing and assembly departments...

Finance
1.2K views

An "investor floater" is a bond with a coupon that is adjusted down when interest...

Accounting
1.2K views

LaBouche Company had cash receipts from customers in 2017 of $142,000. Cash payments for operating...