Tux requested a price reduction on the August 19 sale because the merchandise did not meet specifications. Lowe’s gave a price reduction (allowance) of $400 to Tux and credited Tux's accounts receivable for that amount. .
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A firm that manufactures TVs sells them at prices of $750, $1,000, and $1,250. The manufacturer will return $75, $100, or $125 respectively, by mail, to those who purchase its brand of TV. This reduction in price is an example of a:a. promotion allowance. b. trade-in. c. rebate. d. quantity discount.
Donna D.
Aug 4: Sold merchandise on account to S Miller for $320 plus sales tax of $4 with 2/10, n/30 cash discount terms. Aug 6: Sold merchandise on account to KKrtek for $210 plus sales tax of $4.10. Aug 10: S Miller returned merchandise purchased on August 4 for $20 plus sales tax for credit.
Akash M.
$4,200 with a 35% markdown
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