All of Pershing Electronics' customers take their discount from their credit terms of 2/10 net 30...

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All of Pershing Electronics' customers take their discount from their credit terms of 2/10 net 30 days. If they invoiced $500,000 over the last quarter, how much did their customers save by prompt payment? What was Sales Revenue on the Income Statement for the quarter? Sales to Ramada Foods were $213,000 last year. Ramada earned a 1% volume rebate on their first $50,000, a 2.5% rebate on the next $100,000 and a 3% rebate on anything over $150,000. What was their total volume rebate? How would you deal with this amount on the income statement? All of Pershing Electronics' customers take their discount from their credit terms of 2/10 net 30 days. If they invoiced $500,000 over the last quarter, how much did their customers save by prompt payment? What was Sales Revenue on the Income Statement for the quarter? Sales to Ramada Foods were $213,000 last year. Ramada earned a 1% volume rebate on their first $50,000, a 2.5% rebate on the next $100,000 and a 3% rebate on anything over $150,000. What was their total volume rebate? How would you deal with this amount on the income statement?

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To calculate the savings from prompt payment and the Sales Revenue on the Income Statement for Persh... View the full answer