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Questions and Answers
What is the total amount of the credit invoice received from Drug Wholesale?
What is the total amount of the credit invoice received from Drug Wholesale?
- 149.11
- 394.00
- 494.94 (correct)
- 438.00
Under what terms of sale does the buyer receive a 2% discount if the bill is paid within 10 days?
Under what terms of sale does the buyer receive a 2% discount if the bill is paid within 10 days?
- Net 30
- Net 60
- COD or Cash on delivery
- 2/10,n/30 (correct)
What is the amount of HST Recoverable from the original purchase?
What is the amount of HST Recoverable from the original purchase?
- 56.94
- 1147.00
- 1296.11
- 149.11 (correct)
What is the journal entry for the credit invoice received from Drug Wholesale?
What is the journal entry for the credit invoice received from Drug Wholesale?
What is the total amount of the original purchase?
What is the total amount of the original purchase?
When does the buyer need to pay the full amount of the invoice under Net 30 terms of sale?
When does the buyer need to pay the full amount of the invoice under Net 30 terms of sale?
What is the purpose of recording purchases returns and allowances?
What is the purpose of recording purchases returns and allowances?
What is the amount of HST Recoverable from the credit invoice?
What is the amount of HST Recoverable from the credit invoice?
What is the amount of the damaged goods returned to Drug Wholesale?
What is the amount of the damaged goods returned to Drug Wholesale?
Under what terms of sale is the buyer required to pay for the goods at the time of delivery?
Under what terms of sale is the buyer required to pay for the goods at the time of delivery?
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