Purchase-related transactions the stationery company purchased merchandise on account from a supplier for $8,700, terms 1/10, n/30. the stationery company returned merchandise with an invoice amount of $1,100 and received full credit.

(a) if the stationery company pays the invoice within the discount period, what is the amount of cash required for the payment?

(b) under a perpetual inventory system, what account is credited by the stationery company to record the return?

Portia grant is an employee who is paid monthly. for the month of january of the current year, she earned a total of $8,388. the fica tax for social security is 6.2% of the first $118,500 earned each calendar year and the fica tax rate for medicare is 1.45% of all earnings. the futa tax rate of 0.6% and the suta tax rate of 5.4% are applied to the first $7,000 of an employee's pay. the amount of federal income tax withheld from her earnings was $1,391.77. what is the total amount of taxes withheld from the portia's earnings?