Question: What do the terms 2 10 n 30 mean If you were
What do the terms 2/10, n/30 mean? If you were advising a company who bought goods under these terms, what would you advise it to do with respect to payment? Why?
Answer to relevant QuestionsWhat does the term “free on board” mean? Why is this an important term to understand if you are involved in making decisions about the purchasing of inventory or the setting of prices for your products?By the River Spas, Inc., purchased $10,900 worth of inventory from the Pool Doctor on account, terms of 1/10, n/30. Some of the goods are damaged in shipment, so By the River Spas, Inc., returns $2,200 of the merchandise to ...Use the data from S4-11 to prepare the classified balance sheet for The Skate Shack, Inc., at January 31, 2012. Use the reportformat.Consider the following incomplete table of a merchandiser’s profit data:.Requirement1. Complete the table by computing the missingamounts.Journalize the following transactions for AD Wholesale, Inc., that occurred during the month of November. AD Wholesale’s cost of inventory is 60% of the sales price.Nov 3 Sold $1,700 of merchandise on account, terms 2/15, ...
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