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TAKING A DISCOUNT AFTER A PURCHASE RETURN

Original Purchase Invoice Amount (P336). Purchases Return (DM22). Purchase Invoice Amount After Return. Amount owed on invoice:. –. =. –. =. $________. ________. $_________. Purchase Invoice Amount After Return. Purchases Discount Rate. Purchases Discount. Purchases discount:.

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TAKING A DISCOUNT AFTER A PURCHASE RETURN

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  1. Original Purchase Invoice Amount (P336) Purchases Return (DM22) Purchase Invoice Amount After Return Amount owed on invoice: – = – = $________ ________ $_________ Purchase Invoice Amount After Return Purchases Discount Rate Purchases Discount Purchases discount: × = × = $__________ 2% $_________ Amount due after purchases discount: Purchase Invoice Amount After Return Purchases Discount Total Amount Due – = – = $_________ $________ $_________ TAKING A DISCOUNT AFTER A PURCHASE RETURN June 9. Paid cash on account to Office Max, $796.25, covering Purchase Invoice No. 336 for video equipment for $900.00, less Debit Memorandum No. 22 for $87.50, and less 2% discount. Check No. 316. LESSON 1-3

  2. Original Purchase Invoice Amount (P390) Purchases Return (DM26) Purchase Invoice Amount After Return Amount owed on invoice: – = – = $________ ________ $_________ Purchase Invoice Amount After Return Purchases Discount Rate Purchases Discount Purchases discount: × = × = $__________ 2% $_________ Amount due after purchases discount: Purchase Invoice Amount After Return Purchases Discount Total Amount Due – = – = $_________ $________ $_________ TAKING A DISCOUNT AFTER A PURCHASE RETURN June 15.Paid cash on account to Best Buy, $412.58, covering Purchase Invoice No. 390 for audio equipment for $457.00, less Debit Memorandum No. 26 for $36.00, and less 2% discount. Check No. 325 LESSON 1-3

  3. Original Purchase Invoice Amount (P410) Purchases Return (DM30) Purchase Invoice Amount After Return Amount owed on invoice: – = – = $________ ________ $_________ Purchase Invoice Amount After Return Purchases Discount Rate Purchases Discount Purchases discount: × = × = $__________ 2% $_________ Amount due after purchases discount: Purchase Invoice Amount After Return Purchases Discount Total Amount Due – = – = $_________ $________ $_________ TAKING A DISCOUNT AFTER A PURCHASE RETURN June 23.Calculate the amount of cash paid on account to Denver Supply for Purchase Invoice 410, $800.00. Less Debit Memo 30 for $89.00, and less 2% discount. Check No. 332 LESSON 1-3

  4. Original Purchase Invoice Amount (P415) Purchases Return (?) Purchase Invoice Amount After Return Amount owed on invoice: – = – = $________ ________ $_________ Purchase Invoice Amount After Return Purchases Discount Rate Purchases Discount Purchases discount: × = × = $__________ 2% $_________ Amount due after purchases discount: Purchase Invoice Amount After Return Purchases Discount Total Amount Due – = – = $_________ $________ $_________ TAKING A DISCOUNT AFTER A PURCHASE RETURN June 25.Calculate the amount of cash paid on account to Tom’s General Supply for Purchase Invoice 415, $580.00, less 2% discount. Check No. 338 LESSON 1-3

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