Jones Manufacturing purchased $10,000 of merchandise inventory on account from a vendor and paid a $500 freight bill. The credit terms are 2/10 or n/30. Because some of the merchandise was not needed, Jones Manufacturing returned $2,000 the same day. Jones Manufacturing uses the perpetual inventory system and made payment for the merchandise, less the return, within the discount period. What is the final cost of the merchandise inventory for Jones Manufacturing from this purchase?
A: 8,000
B: $7,840
C: 8,340
D: $10,094
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Jones Manufacturing purchased $10,000 of merchandise inventory on account from a vendor and paid a $500 freight bill. The credit terms are ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The force that leads to zero economic profits for monopolistically competitive firms in the long run is a. excess capacity. b. price wars among firms. c. entry by new firms. d. excessive advertising.
Answers (1)
John purchases a blender from juicemart. a crack in the plastic casing causes the blade to swing out of control and fly at john's arm. john is shaken up by the incident but otherwise uninjured.
Answers (1)
What are devices or equipment worn to protect students, teachers, employees, or anyone who is workingin a potentially dangerous area
Answers (1)
Read the sentence. jennifer wants to move from her farmhouse to a house in town commuting every day to work is very expensive.
Answers (1)
In Cuba, what determines what is produced, how much is produced, and what prices good are sold at? A. the government B. the principles of supply and demand C. individuals and businesses D. the global market
Answers (1)
New Questions in Business
Which of the following characteristics would lead the auditor to assess control risk at a higher level? a. It is difficult for the auditor to determine or gain access to the organization or individuals who own and/or control the entity. b.
Answers (1)
The reason for the Fed being set up as an independent agency of government is to:
Answers (1)
Headings in reports that describe the content of the section and may even give a conclusion about the section are called:
Answers (1)
Coronado Company purchased land for $80,000. The company also paid $12,000 in accrued taxes on the property, incurred $5,000 to remove an old building, and received $2,000 from the salvage of the old building.
Answers (1)
Trueview video ads can be especially effective for driving what goals?
Answers (1)