Question: Anderson Inc. sells $900 of merchandise on account to Baltic Company with credit terms of 2/10, n/30. If Baltic Company remits a check taking advantage

Anderson Inc. sells $900 of merchandise on account to Baltic Company with credit terms of 2/10, n/30. If Baltic Company remits a check taking advantage of the discount offered, what is the amount of Baltic Company's check?
$840
$810
$882
$900

Step by Step Solution

★★★★★

3.41 Rating (148 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

A sale of merchandise on account to a final user for $13,750 is subject to a 6% PST and a 5% GST. (a) Should the PST and the GST be recorded at the time of sale or when payment is received? (b) What...

On January 2, Handley Ltd. sold merchandise on account to R. James for $51,000, terms n/30. The company uses a perpetual inventory system and the merchandise originally cost $32,200. On February 1,...

On March 1, Lincoln sold merchandise on account to Amelia Company for $28,000, terms 1/10, net 45. On March 6, Amelia returns merchandise with a sales price of $1,000. On March 11, Lincoln receives...

36-41 7 _36 The statement of cash flows will not report a. the issuance of common stock for cash. b. the results of a stock dividend C. the uses of cash in the current period. d. the amount borrowed...

A credit sale of $3,800 is made on April 25, terms 2/10, net/30, on which a return of $200 is granted on Apri 28. What amount is received as payment in full on May 4? Select one: OA. $3,528 B. $3,724...

Anderson Inc. sells $1.200 of merchandise on account to Baltic Company with credit terms of 2/10, 1/30. Baltic Company remits a check taking advantage of the discount offered, what is the amount of...

1. Under the perpetual inventory system, in addition to making the entry to record a sale, a company would a. debit Inventory and credit Cost of Goods Sold. b. debit Cost of Goods Sold and credit...

Anderson Inc sells $1200 of merchandise on account to Baltic Company with credit terms of 2/10, 1/30. If Baltic Company remits a check taking advantage of the discount offered, what is the amount of...

Acme Inc. sells $1,200 of merchandise on account to A1 Company with credit terms of 2/10, n/30. If A1 Company remits a check taking advantage of the discount offered, what is the amount of A1...

Question 2 0.5 pt Using the t distribution table, find the 97.5th percentile of the t-distribution when d.f = 11. ( Do not use softwares, use only the table posted in the course pages)

Can to get Financial Scorecard for an Online Cooking Business with a diagram and an explanation of that also, mention some of your viewpoints on this business.

One of the most important things your organization does is hire new talent, yet many organizations could improve their hiring processes. In this week's discussion board, respond to the following...

With regards to brand equity, for each of the five main benefits of a brand (functional, emotional, self-expressive, moral, and experiential) list a brand that you think does a great job...

Do you believe that Luxottica's changes improved the value customers receive from their brands? Why or why not? If yes, how? If no, explain. Do you believe that Luxottica creates significant barriers...

Aggregate planning is greatly concerned with matching anticipated demand with capacity. If the two deviate, in other words, if anticipated demand differs from capacity, management may implement an...

! Required Information [ The following information applies to the questions displayed below. ] A pension fund manager is considering three mutual funds. The first is a stock fund, the second is a...

Determine the volume of the parallelepiped of Fig. 3.25 when (a) P = 4i 3j + 2k, Q = 2i 5j + k, and S = 7i + j k, (b) P = 5i j + 6k, Q = 2i + 3j + k, and S = 3i 2j + 4k. P

Selected financial data of Target Corporation and Wal-Mart Stores, Inc. for a recent year are presented here (in millions). Instructions (a) For each company, compute the following ratios. (1)...

Distinguish between the two bases that may be used in estimating uncollectible accounts.

Define the term margin of safety. If Revere Company expects to sell 1,250 units of its product at $12 per unit, and break-even sales for the product are $13,200, what is the margin of safety ratio?

Calculate the missing values

A bedroom suite costs Town & Country Furniture $5000 less 30% and 15%. The normal rate of markup on cost is 90%. The suite is marked down 30% in a Mid- Summer Sale. What is the sale price?

Elite Sports sells Kevlar-graphite shaft hockey sticks for $147 each. Elites wholesale cost is $98. For a Spring Clearance Sale, the prices are marked down by 20%. If overhead expenses are 15% of the...