If a retailer made a purchase in the amount of $350 with credit terms of 2/15, n/60.
Question:
If a retailer made a purchase in the amount of $350 with credit terms of 2/15, n/60. What would the retailer pay in cash if they received the discount?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
350 167 6913 cash on hand 6687 due fr...View the full answer
Answered By
James Warinda
Hi! I’m James Otieno and I'm an experienced professional online tutor with countless hours of success in tutoring many subjects in different disciplines. Specifically, I have handled general management and general business as a tutor in Chegg, Help in Homework and Trans tutor accounts.
I believe that my experience has made me the perfect tutor for students of all ages, so I'm confident I can help you too with finding the solution to your problems. In addition, my approach is compatible with most educational methods and philosophies which means it will be easy for you to find a way in which we can work on things together. In addition, my long experience in the educational field has allowed me to develop a unique approach that is both productive and enjoyable.
I have tutored in course hero for quite some time and was among the top tutors awarded having high helpful rates and reviews. In addition, I have also been lucky enough to be nominated a finalist for the 2nd annual course hero award and the best tutor of the month in may 2022.
I will make sure that any student of yours will have an amazing time at learning with me, because I really care about helping people achieve their goals so if you don't have any worries or concerns whatsoever you should place your trust on me and let me help you get every single thing that you're looking for and more.
In my experience, I have observed that students tend to reach their potential in academics very easily when they are tutored by someone who is extremely dedicated to their academic career not just as a businessman but as a human being in general.
I have successfully tutored many students from different grades and from all sorts of backgrounds, so I'm confident I can help anyone find the solution to their problems and achieve
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
-
What are the differences in the amount of borrowing costs that can be capitalized under IFRS and U.S. GAAP?
-
A car-rental company is interested in the amount of time its vehicles are out of operation for repair work. State all assumptions and find a 90% confidence interval for the mean number of days in a...
-
A statistics student was interested in the amount of time that community college students exercise each week. He gathered data from a random sample of students at his community college and excluded...
-
Prepare journal entries to record each of the following sales transactions of TFC Merchandising. TFC uses a perpetual inventory system and the gross method. May 1 9 Sold merchandise for $600, with...
-
Define economic rent. In the graph below, assume that the market demand curve for labor is initially D1. a. What are the equilibrium wage rate and employment level? What is the economic rent? b. Next...
-
An alternative approach to determining stability is the direct methed of Liapunov.5 Liapunov assumes the existence of a positive-definite energylike function L(x, y) with continuous first partial...
-
Find the value of the put for Mr. Smith described in Example 15.9. Example 15.9 (A foreign currency put) Mr. Smith, a successful but cautious U.S. businessman, has sold a product to a Japanese firm,...
-
Yandell Company expects to sell 1,650 units of finished product in January and 2,000 units in February. The company has 240 units on hand on January 1 and desires to have an ending inventory equal to...
-
ABC Manufacturing currently produces 2,000 glasses per month. The following per unit data apply for sales to regular customers and is based on 1,000 units produced. Direct materials $200 Direct...
-
A physics professor did daredevil stunts in his spare time. His last stunt was an attempt to jump across a river on a motorcycle (Fig. 3.51). The takeoff ramp was inclined at 53.0", the river was...
-
On June 1, Lupita Candy Supplies sells 1,250 candy buckets to a local school at a sales price of $10 per bucket. The cost to Lolita is $2 per bucket. The terms of the sale are 2/10, n/60, with an...
-
Assume that the business in Exercise 6-9 maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the first-in,...
-
Return on investment and residual income Emery Company has operating assets of $3,600,000. The companys operating income for the most recent accounting period was $407,000. The Lindburg Division of...
-
What is the difference between Qard and Dayn?
-
Which sentence places more emphasis on the seminar? a. An executive training seminar that starts June 1 will include four candidates. b. Four candidates will be able to participate in an executive...
-
List 11 techniques for improving your listening skills. Be prepared to discuss each.
-
Our social media engineers are excited to announce a new free app called Fan Boosters that we believe will get fans to share, like, and subscribe to your content. Revise the following sentences to...
-
Which of the following shows the correct balance of Deferred Profit account of Islamic Bank of Jordan at the end of the 5th year after the payment of the 5th instalment but before redemption? a....
-
Determine the single sampling plans that will reject lots that are 1.3% nonconforming 8% of the time. Use acceptance numbers of 1, 3, and 5. From a consumer's point of view, which of these three...
-
What is your opinion of advertising awards, such as the Cannes Lions, that are based solely on creativity? If you were a marketer looking for an agency, would you take these creative awards into...
-
Discuss some ways that a firm can link its sales promotion activities to its advertising and personal selling effortsso that all of its promotion efforts result in an integrated effort.
-
Indicate the type of sales promotion that a producer might use in each of the following situations and briefly explain your reasons: a. A firm has developed an improved razor blade and obtained...
-
Why wouldnt a producer of toothpaste just lower the price of its product rather than offer consumers a price-off coupon?
-
4. a) What is the value of cos 30 ? What is the value of sin 60 ? b) Explain why cos 30 and sin 60 are related in this way. (You may want to draw a triangle with these angles to help you.) c) Using...
-
7. A rectangular box measures 18 in by 24 in by 30 in, as shown. What is the longest stick that can be placed inside the box? Round to the nearest inch. 18 in 24 in 30 in
-
Moshe's Social Security benefit at full retirement age will be $1,576.00 per month. Determine what his monthly benefit will be if he begins collecting 21 months early.
Study smarter with the SolutionInn App