Exercise A Algo Cash discounts and purchase returns LO
On April Year Home Furnishings purchased $ of merchandise from Una Imports, terms n On April Home
returned $ of the merchandise to Una Imports for credit. Home paid cash for the merchandise on April Year
Required
a What is the amount that Home Furnishings must pay Una Imports on April
b Record the events in a horizontal statements model. In the Cash Flow column, use OA to designate operating activity, IA for
investing activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell
blank.
c How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April Year
d Record the payment of the merchandise in Requirement c in a horizontal statements model. In the Cash Flow column, use OA to
designate operating activity, IA for investing activity, FA for financing activity, or NC for net change in cash. If the element is not
affected by the event, leave the cell blank.
Complete this question by entering your answers in the tabs below.
What is the amount that Home Furnishings must pay Una Imports on April
