Business, 31.07.2020 17:01 getyoursmarts

On April 6, 2018, Home Furnishings purchased $38,000 of merchandise from Una's Imports, terms 3/10 n/45. On April 8, Home Furnishings returned $8,000 of the merchandise to Una's Imports for credit. Home Furnishings paid cash for the merchandise on April 15, 2018. Required
a. What is the amount that Home Furnishings must pay Una's Imports on April 15?
b. Record the events in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, NC for net change in cash and NA to indicate the element is not affected by the event.
c. How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April 20, 2018?
d. Record the payment of the merchandise in Requirement (c) in a horizontal statements. In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, NC for net change in cash and NA to indicate the element is not affected by the event.

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On April 6, 2018, Home Furnishings purchased $38,000 of merchandise from Una's Imports, terms 3/10 n...