Alpha Geek

(8)

$10/per page/Negotiable

About Alpha Geek

Levels Tought:
University

Expertise:
Accounting,Algebra See all
Accounting,Algebra,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Communications,Computer Science,Environmental science,Essay writing,Programming,Social Science,Statistics Hide all
Teaching Since: Apr 2017
Last Sign in: 438 Weeks Ago, 3 Days Ago
Questions Answered: 9562
Tutorials Posted: 9559

Education

  • bachelor in business administration
    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

  • CPA
    Polytechnic State University
    Jan-2012 - Nov-2016

Experience

  • Professor
    Harvard Square Academy (HS2)
    Mar-2012 - Present

Category > Accounting Posted 22 Apr 2017 My Price 2.00

Nelson Company

Discounts

The Nelson Company bought inventory for $50,000 on terms of 2/15, n/60. It pays for the first $37,500 of inventory purchased within the discount period and pays for the remaining $12,500 two months later.

Required:

Prepare the journal entries to record the purchase and the payment under both the (1) gross price and (2) net price methods.

 

Answers

Alpha Geek
(8)
Status NEW Posted 22 Apr 2017 01:04 PM My Price 2.00

-----------

Attachments

file 1492866298-Nelson Company.docx preview (100 words )
Â----------- Ne-----------lso-----------n C-----------omp-----------any----------- D-----------isc-----------oun-----------ts -----------The----------- Ne-----------lso-----------n C-----------omp-----------any----------- bo-----------ugh-----------t i-----------nve-----------nto-----------ry -----------for----------- $5-----------0,0-----------00 -----------on -----------ter-----------ms -----------of -----------2/1-----------5, -----------n/6-----------0. -----------It -----------pay-----------s f-----------or -----------the----------- fi-----------rst----------- $3-----------7,5-----------00 -----------of -----------inv-----------ent-----------ory----------- pu-----------rch-----------ase-----------d w-----------ith-----------in -----------the----------- di-----------sco-----------unt----------- pe-----------rio-----------d a-----------nd -----------pay-----------s f-----------or -----------the----------- re-----------mai-----------nin-----------g $-----------12,-----------500----------- tw-----------o m-----------ont-----------hs -----------lat-----------er.----------- R-----------equ-----------ire-----------d -----------Pre-----------par-----------e t-----------he -----------jou-----------rna-----------l e-----------ntr-----------ies----------- to----------- re-----------cor-----------d t-----------he -----------pur-----------cha-----------se -----------and----------- th-----------e p-----------aym-----------ent----------- un-----------der----------- bo-----------th -----------the----------- (1-----------) g-----------ros-----------s p-----------ric-----------e a-----------nd -----------(2)----------- ne-----------t p-----------ric-----------e m-----------eth-----------ods-----------. -----------  ----------- No-----------v 0-----------2 2-----------016----------- 10-----------:35----------- AM----------- -----------Ans-----------wer-----------: -----------Gro-----------ss -----------Pri-----------ce -----------met-----------hod----------- Da-----------te -----------par-----------tic-----------ula-----------rs
Not Rated(0)
Relevent Questions