1) On March 15, Maxwell Plush sold and shipped merchandise on account for $6,000 to Kittson Amusement Park, terms FOB shipping point, n/30. Maxwell's cost of goods sold is 40% of sales. How is Maxwell impacted by this sale on March 15?

A.

Its assets will increase, as will its equity.

B.

Its assets will remain the same, while its equity decreases.

C.

Its assets will remain the same, while its equity increases.

D.

Its assets will increase, while its equity remains the same

2) Washington Products offers credit terms of 3/10, n/45. Which of the following statements is correct?

A.

The customer can take a 3% discount if the bill is paid within 45 days of the invoice date.

B.

No discount is offered for early payment.

C.

The total amount of the invoice must be paid within 10 days of the invoice date.

D.

A discount of 3% can be taken if the invoice is paid within 10 days of the invoice date

3) What is the maturity value of a $ 30 comma 000$30,000, 1515%, six-month note?