On January 1, a company made a sale of $87,500, on credit. If the credit terms were 2/10, n/30, what would be the amount of the sales discount be if the payment is received on January 9?
a.$8,750
b.$1750
c.$10,000
d.$26,250
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On January 1, a company made a sale of $87,500, on credit. If the credit terms were 2/10, n/30, what would be the amount of the sales ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Morning Star has credit sales of $1,032,800, costs of goods sold of $662,350, average accounts receivable of $86,300, and average accounts payable of $92,600.
Answers (1)
Which department manages the process of converting or transforming resources into goods or services?
Answers (1)
To eliminate the deficit (and halt the growth of the net public debt), a politician suggests that "we should tax the rich." Suppose the politician defines "the rich" as people with annual taxable incomes exceeding $1 million per year.
Answers (1)
On March 1, the Garner Corporation borrowed $75,000 from the First Bank of Midlothian on a 1-year, 5% note. Required: If the company keeps its records on a calendar year, what adjusting entry should Garner make on December 31?
Answers (1)
McKinnon Enterprises owns a professional ice hockey team, the Rockford Penguins. The company sells season tickets for its upcoming season and receives $960,000 cash.
Answers (1)
New Questions in Business
If supply increases while demand decreases A. the equilibrium quantity will definitely increase. B. the equilibrium price will definitely decrease. C. the equilibrium quantity will definitely decrease. D.
Answers (1)
To sit next to her mother at a restaurant, diana pushes her little brother mark out of the way. what type of aggression is this?
Answers (1)
Roger Technologies invests $50,000 to acquire $50,000 face value, 8%, five-year corporate bonds on January 2, 2017. The bonds will mature on January 2, 2022. The bonds pay interest semiannually on January 2 and July 2 each year until maturity.
Answers (1)
At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $195,000 and Total Liabilities of $75,000. During the year, the company reported total revenues of $226,000 and expenses of $175,000.
Answers (1)
Company X failed to record (accrue) $5,000,000 of vendor invoices and warranty liability at year-end. With this omission, the company's summary financial statements were stated as follows:Summarized Income StatementSales $50,000,000All Cost (incl.
Answers (1)