An invoice dated November 18 for $5445 has terms 3/10, n/90. If a $3000 cash payment is

Question:

An invoice dated November 18 for $5445 has terms 3/10, n/90. If a $3000 cash payment is made on November 27, how much will be credited to the account? What is the balance owing on the account?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Fundamentals Of Business Mathematics In Canada

ISBN: 9781259370151

3rd Edition

Authors: F. Ernest Jerome, Jackie Shemko

See More Books

Question Posted: Oct 16, 2020 03:22 AM

See More Questions

The Moneybuilder account offered by a chartered bank calculates interest daily based on the daily closing balance as follows: The balance at the beginning of March was $1678. On March 5, $700 was...
The Fashion Rack has a monthly accounting period. The firms chart of accounts is shown below and on the next page. The journals used to record transactions are the sales journal, purchases journal,...
On January 2, 2012, Athol Company bought a machine for use in operations. The machine has an estimated useful life of eight years and an estimated residual value of $ 2,600. The company provided the...
John Woods' weekly gross earnings for the present week were $2,500. Woods has two exemptions. Using an $80 value for each exemption and the tax rate schedule below, what is Woods' federal income tax...
A symmetric converging diverging duct with an area ratio of 2 is placed in wind tunnel where it encounters a 700 m/s flow of air at 50 kPa and 300 K. Determine the bypass ratio (diverted flow /...
4. Assume that Clearwire is successful. Identify five opportunities that its success will create for you. Use the example of Larry Jones in Case Study 6 to stimulate your thinking, but do not...
4. Rayan SALs income and expenses occurred proportionately during the year. REQuIRED: Prepare a workpaper to consolidate the financial statement of Adnan SAL and subsidiary for the year ended...
Wipro Companys income statement included the following expenses for 2014: Rent expense ......... $ 78,000 Interest expense ....... 11,700 Salaries expense ....... 124,500 The related balance sheet...
Exercise 3-10A Patel Company issued 93,650 shares of $1 par value common stock (market value of $6/share) for 95% of the common stock of Seely Company on January 1, 2014. Seely Company had the...
The following balances appeared in the general ledger accounts of Fenton Table Rentals Corporation at April 1, 2019. Required: 1 Prepare journal entries to record the April transactions shown on the...
Calculate the missing values in problem. Reduced Cost, C ($) Markup, Regular price, M Rate of markdown Sale price, Sceduced) ($) profit, ($) Overhead, E S ($) Ireduced) 98.00 18% of S ?% of S 147.00...
An item that regularly sells for $85 is marked down in a 45% off sale. a. What is the reduced selling price? b. What is the amount of the markdown?
The adjusted trial balance of L. Farrish Corporation at May 31, 2014, follows: Requirements 1. Prepare L. Farrish Corporations 2014 single step income statement, statement of retained earnings, and...
San Antonio S.A. rents a store in the Cusco Shopping Center, carrying out a series of modifications and installations in said store with the commitment that, at the end of the rental, it will...
b. If the above transactions covered a full year's operations, prepare a journal entry to dispose of the overhead account balance. Assume that the balance is significant. Also assume that the...
On 1 May 2015 Harry's Plastics Ltd acquires goods from a supplier in the US. The goods are shipped f.o.b. from the United States on 1 May 2015. The cost of the goods is US$1 500 000. The amount has...
In this assignment, you are going to analyze the financial viability of two companies, currently listed on the TSX . Then you will make an investment decision and justify your reasoning. Email your...
Create a journal entry for expense closing enteries. Time period: 3 months Entry number HBS073 This journal entry have 13 accounts Income Statement Weeks 1-10 Total Revenue Rental Revenue Sales...
The desperate contestants on a TV survival show are very hungry. The only food they can see is some fruit hanging on a branch high in a tree. Fortunately, they have a spring they can use to launch a...
Provide a draft/outline of legal research involving an indigenous Canadian woman charged with assault causing bodily harm under (Sec 267b) of the Criminal Code, where the crown wants a 12-month jail...
Implement the test procedure in Problem 7.52, and report a p-value (two-sided)? Ophthalmology Researchers have reported that the incidence rate of cataracts may be elevated among people with...
Test the hypothesis that the 5-year incidence rate of cataracts is different in the excessive-sunlight-exposure group compared with the general population, and report a p-value (two-sided). The...
Construct a 95% CI for the 5-year true rate of cataracts among the excessive-sunlight-exposure group? The researchers decide to extend the study to a 5-year period and find that 20 of the 200 people...
When credit terms for a sale are 2/15, n/40, the customer saves by paying early. What percent (rounded) would this savings amount to on an annual basis
An industrial robot that is depreciated by the MACRS method has B = $60,000 and a 5-year depreciable life. If the depreciation charge in year 3 is $8,640, the salvage value that was used in the...
What determines a firm's beta? Should firm management make changes to its beta? Be sure to consider the implications for the firm's investors using CAPM.

An invoice dated November 18 for $5445 has terms 3/10, n/90. If a $3000 cash payment is

Question:

Step by Step Answer:

The payment qualifies ...View the full answer

Fundamentals Of Business Mathematics In Canada

Students also viewed these Mathematics questions