If a customer purchased merchandise in the amount of $340, terms 3/10, n/30, returned $70 of the
Question:
If a customer purchased merchandise in the amount of $340, terms 3/10, n/30, returned $70 of the inventory for a full refund, and received an allowance for $65, how much discount would be applied if the customer remitted payment within the discount window?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
Step 1 To determine Concept introduction Periodic Inventory System The per...View the full answer
Answered By
Marvine Ekina
Marvine Ekina
Dedicated and experienced Academic Tutor with a proven track record for helping students to improve their academic performance. Adept at evaluating students and creating learning plans based on their strengths and weaknesses. Bringing forth a devotion to education and helping others to achieve their academic and life goals.
PERSONAL INFORMATION
Address: , ,
Nationality:
Driving License:
Hobbies: reading
SKILLS
????? Problem Solving Skills
????? Predictive Modeling
????? Customer Service Skills
????? Creative Problem Solving Skills
????? Strong Analytical Skills
????? Project Management Skills
????? Multitasking Skills
????? Leadership Skills
????? Curriculum Development
????? Excellent Communication Skills
????? SAT Prep
????? Knowledge of Educational Philosophies
????? Informal and Formal Assessments
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Students also viewed these Business questions
-
A 5-year loan in the amount of $169,000 is to be repaid in equal annual payments. What is the remaining principal balance after the third payment if the interest rate is 3 percent, compounded...
-
If a retailer purchased inventory in the amount of $750, terms 2/10, n/60, returned $30 of the inventory for a full refund, and received an allowance for $95, how much would the discount be if the...
-
A participating ordinary life policy in the amount of $10,000 is sold to an individual, age 35. The following cost data are given: Annual premium ............... $230 Total dividends for 20 years...
-
For problems involving composite bodies composed of two or more materials, the elasticity solution requires both boundary conditions and interface conditions between each material system. The...
-
Answer each of the following questions about the labor market: a. Which economic decision makers determine the demand for labor? What is their goal, and what decision criteria do they use in trying...
-
A uniform magnetic field exists in a cuboidal volume of space with \(l=3 \mathrm{~cm}, b=2 \mathrm{~cm}\), and \(h=1 \mathrm{~cm}\). If the magnetic energy stored in the volume is \(10 \mathrm{~J}\),...
-
Better Beds Ltd operates three departments. The decor department has not been performing very well and has shown a loss for the past 3 years according to the companys statement of financial...
-
Rita Gonzales won the $41 million lottery. She is to receive $1.5 million a year for the next 19 years plus an additional lump sum payment of $12.5 million after 19 years. The discount rate is 14...
-
LG just paid a $2 annual dividend on its common stock. The dividend is expected to increase 5.5% per year indefinitely. If the required rate of return is 7.8%, What is the the stock's value next year?
-
Today is May 17, 2023, and you, CPA, are a Senior Tax Associate at Borden & Laurier LLP. Sylvie Condurache, Tax Manager, has called you into her office to discuss a long-time client: "I just got out...
-
Review the following situations and record any necessary journal entries for Nine Lives Inc. Jan. 15 Jan. 23 Nine Lives Inc. purchases $8,770 worth of merchandise with cash from a manufacturer....
-
Following is the adjusted trial balance data for Garage Parts Unlimited as of December 31, 2019. A. Use the data provided to compute net sales for 2019. B. Compute the gross margin or 2019. C....
-
Explain why the following accounts are used and why each of them must be adjusted: a. Salary Payable b. Unearned Service Revenue c. Supplies d. Prepaid Rent e. Accumulated Amortization-furniture
-
Consider the interval \([0,1]\) endowed with Lebesgue measure \(\lambda\) on the Borel \(\sigma\)-algebra \(\mathcal{B}\). Define \(\mathcal{F}_{t}=\sigma\{A: A \subset[0, t], A \in \mathcal{B}\}\)....
-
(1) Let \(M\) be a positive continuous martingale such that \(M_{0}=x\). (i) Prove that if \(\lim _{t ightarrow \infty} M_{t}=0\), then \[\begin{equation*}\mathbb{P}\left(\sup M_{t}>a...
-
Give another proof that \(\lim _{t ightarrow \infty} M_{t}=0\) in the above Example 1.2.1.7 by using \(T_{-a}=\inf \left\{t: W_{t}=-a ight\}\). Example 1.2.1.7: The martingale \(M_{t}=\exp...
-
Prove Proposition 1.4.3.3. Proposition 1.4.3.3: Let \(B_{t}=\Gamma W_{t}\) where \(W\) is a d-dimensional Brownian motion and \(\Gamma=\left(\gamma_{i, j} ight)\) is a \(d \times d\) matrix with...
-
Let \(\tau=\inf \left\{t: M_{t}-W_{t}>a ight\}\). Prove that \(M_{\tau}\) follows the exponential law with parameter \(a^{-1}\). The exponential law stems from \[\mathbb{P}\left(M_{\tau}>x+y \mid...
-
The article "Groundwater Electromagnetic Imaging in Complex Geological and Topographical Regions: A Case Study of a Tectonic Boundary in the French Alps" (S. Houtot, P. Tarits, et al., Geophysics,...
-
A heat engine has a heat input of 3 Ã 104 Btu/h and a thermal efficiency of 40 percent. Calculate the power it will produce, in hp. Source 3 x 10 Btu/h 40% HE Sink
-
Explain the meaning of the comparative performance and comparative cost data in Exhibits 18-3 and 18-4. Why does it appear that eliminating sales areas D and E would be profit able?
-
Most sales forecasting is subject to some error (perhaps 5 to 10 percent). Should we then expect variations in sales performance of 5 to 10 percent above or below quota? If so, how should we treat...
-
Why is there controversy between the advocates of the full-cost and the contribution-margin approaches to cost analysis?
-
s Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Required: 1. Compute the plantwide predetermined...
-
How do visionary leaders navigate the complexities of organizational dynamics to cultivate a culture of innovation and adaptability ? Explain
-
Finnish Corporation manufactures custom molds for use in the extrusion industry. The company allocates manufacturing overhead based on machine hours. Selected data for costs incurred for Job 532 are...
Study smarter with the SolutionInn App