Question: Can someone explain, how did they get the answer? Taking advantage of a 2/10, n/30 purchases discount is equal to a savings yearly rate of

Can someone explain, how did they get the answer?

Taking advantage of a 2/10, n/30 purchases discount is equal to a savings yearly rate of approximately?

Answer: 36%

Step by Step Solution

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!

Q:

Can someone explain, how did they get the answer? Taking advantage of a 2/10, n/30 purchases discount is equal to a savings yearly rate of approximately? Answer: 36%

Q:

Merchandise is sold for cash. The selling price of the merchandise is $6,000 and the sale is subject to a 7% state sales tax. The journal entry to record the sale would include a credit to sales tax...

Q:

In which journal would an adjustment for an overcharge by a creditor be recorded? general journal OOO purchases journal cash payments journal cash receipts journal Waller Company does business in two...

Q:

5. Which of the following is an example of accrued revenue? a. snow removal services that have been provided but have not been billed or paid b. snow removal services that has been provided and paid...

Q:

Taking advantage of a 2/10, n/30 purchases discount is equal to a yearly savings rate of approximately 24% 36% 2% 20%

Q:

Taking advantage of a 2/10, n/30 purchases discount is equal to a yearly savings rate of approximately X a. 2% O. 20% Oc. 36% Od. 24% Feedback Check My Work Incorrect

Q:

Which of the following accounts will not be closed to Income Summary at the end of the fiscal year? Fees Earned Insurance Expense Prepaid Insurance Utilities Expense Which of the following accounts...

Q:

1. The Statement of Retained Earnings is prepared using: a. An Adjusted Trial Balance and Income Statement b. And Income Statement c. A Balance Sheet d. An Income Statement and a Balance Sheet 2....

Q:

Select the correct option: 1. Office salaries, depreciation of office equipment, and office supplies are examples of what type of expense? a. selling expense b. miscellaneous expense c....

Q:

EXAM-3%20-ACCT%20101-%20Fal%2C2018( . Comertiblity Mode Design Layout References Mailings Review View Help Tell me what you want to da s New Ro 13 Normal No Paragrapt Styles 1. When the terms of sale...

Q:

The customer of the bank is allowed to open a new account of savings and current account. Both type of accounts permitted the following transactions: Checking balance Deposits money Withdraw money...

Q:

A population has two equal-sized members of "healthy" and "unhealthy" individuals. Members of each type have the same, identical, utility function: U = 20Y0.5 (i.e. 20 x Y raised to the 0.5 power),...

Q:

how does the concept of time affect the raltionship between present value and future value

Q:

QUESTION 4 A quality inspector took five samples, each with five observations, of the length of time (in minutes) for glue to dry. The analyst computed the mean of each sample as, 11.81, 11.62,...

Q:

2. Now change the performance so that you play out the dream in your inner the-atre. Apply colours to the images you envision. Give some pictures a stronger colour than others and vice versa. Also...

Q:

1. Imagine that you have already achieved a dream or a goal you have set for yourself. Both the goal and the dream correspond to your basic values. Try to visualize this dream or goal. What do you...

Q:

4. What means will you use to achieve these values?