The memphis pecan company

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Reference no: EM13953098

A company purchased $9,500 of merchandise on June 15 with terms of 3/10, n/45. On June 20, it returned $475 of that merchandise. On June 24, it paid the balance owed for the merchandise taking any discount it was entitled to. The cash paid on June 24 equals:

On April 24 of the current year, The Memphis Pecan Company experienced a tornado that destroyed the company's entire inventory. At the beginning of April, the company reported beginning inventory of $227,150. Inventory purchased during April (until the date of the tornado) was $198,200. Sales for the month of April through April 24 were $642,900. Assuming the company's typical gross profit ratio is 50%, estimate the amount of inventory destroyed in the tornado.

A company purchased $4,300 worth of merchandise. Transportation costs were an additional $380. The company later returned $295 worth of merchandise and paid the invoice within the 1% cash discount period. The total amount paid for this merchandise is:

Reference no: EM13953098

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