Q5.24: crump company purchased $1,850 worth of inventory on account from payne industries on may 8th. the terms were 3/15, n/eom. crump also paid freight charges of $95 on may 9th. payne granted crump a $150 purchase allowance for slightly damaged goods. prepare the journal entry on may 17th when crump pays the invoice in full.

Given:
MAY 8 - Crump company purchased $1,850 worth of inventory on account from Payne industries ; the terms were 3/15, n/eom.
MAY 9 - Crump also paid freight charges of $95
Payne granted crump a $150 purchase allowance
MAY 17  - Payment in full

                                     Debit               Credit
May 8.
Purchases                      1,850
             Accounts Payable                   1,850

May 9
Freight-In                             95
            Cash                                             95

Accounts Payable              150
            Purchase returns and allowance   150

May 17 - Payment goes beyond the discounting period. No discount is given.

Accounts Payable            1,700
            Cash                                             1,700
(1,850 - 150 = 1,700)

"3/15, n/eom" This means that Crump can avail 3% discount when it pays on the 15th of the month and n discount when it pays at the end of the month. 

My first question is what benefits do you expect to achieve from career exploration? the benefits that i expect to achieve from career exploration. for me i think the benefits of exploring many different careers are that you get exposed to more, so it's easier for you to pick which one you like best. another benefit is that you get a more first hand view of what jobs are more likely to be needed in the future and that can be factored into your consideration. my second question is what do you expect to be the most challenging parts of your career planning process? why? the most challenging parts of my career planning process is trying to get things in order and trying to write this paragraph it is confusing and, hard work. and last but not least my third question is i think the most challenging part is taking the first step and really deciding on a career you want to pursue; there are so many options and it can be hard to choose.which jobs will allow me to make a living? ; what skills does emergency medical technician emergency medical services medical » physiology require?