Author Question: If the seller permits merchandise to be returned or an allowance to be made, it is customary for the ... (Read 123 times)

corkyiscool3328 · **on:** Jul 5, 2018

If the seller permits merchandise to be returned or an allowance to be made, it is customary for the seller to issue a(n)
a. debit memorandum.
b. return memorandum.
c. credit memorandum.
d. allowance memorandum.

Question 2

Calculate the proceeds for each of the following bond issues AND put an X in the appropriate box to show if the bonds sell at a premium, at a discount, or at par:

Proceeds Premium Discount Par
1. Curl Up & Dye, Inc. issued 50,000 worth of bonds at 98.
2. Dew Drop Inn issued 40,000 worth of bonds at 100.
3. Squid Roe, Inc. issued 100,000 worth of bonds at 10.

allisonblackmore · **Reply #1 on:** Jul 5, 2018

Answer to Question 1

c

Answer to Question 2

Proceeds Premium Discount Par
1. Curl Up & Dye, Inc. issued 50,000 worth of bonds at 98. 49,000 X
2. Dew Drop Inn issued 40,000 worth of bonds at 100. 40,000 X
3. Squid Roe, Inc. issued 100,000 worth of bonds at 10. 101,000 X