(Answered) On march 6 2013 cobbs imports purchased merchandise from

Accounting

On March 6, 2013, Cobb's Imports purchased merchandise from Games Inc. with a list price of $19,000, terms 2y10, ny45. On March 10, Cobb's returned merchandise to Games Inc. for credit. The list price of the returned merchandise was $8,500. Cobb's paid cash to settle the accounts payable on March 15, 2013.

Required:

a. What is the amount of the check that Cobb's must write to Games Inc. on March 15?

b. Record the events in a horizontal statements model like the following one.

1402_264-B-A-M-B (1265).png

c. How much would Cobb's pay for the merchandise purchased if the payment is not made until March 20, 2013?

d. Record the payment of the merchandise in Requirement c in a horizontal statements model like the one shown above.

e. Why would Games Inc. sell merchandise with the terms 2y10, ny45?

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