FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

answer this Q please Help Save & Exit A company purchases merchandise with a catalog price of $20.500. The company receives a 30% trade discount

answer this Q please image text in transcribed
Help Save & Exit A company purchases merchandise with a catalog price of $20.500. The company receives a 30% trade discount from the seller. The seller also offers credit terms of 2/10, n/30. Assuming no returns were made and that payment was made within the discount period, what is the net cost of the merchandise? $6.150 $14,063. $11,437 $14,350

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Environmental Audit A Compendium For Nicaragua

Environmental Audit A Compendium For Nicaragua

Authors: Amarus Aurelio Urbina

1st Edition

6203976547, 978-6203976540

More Books

Students also viewed these Accounting questions

Question

★★★★★
Problem-Solving Strategy 41.1 claims that the electric potential energy of a proton and an electron 0.10 nm apart has magnitude 15eV. Verify this claim.

Answered: 1 week ago

Question

★★★★★
The duty of care of a fiduciary involves acting in a manner that is in the best interest of the client. a. True b. False

Answered: 1 week ago

Question

★★★★★
The income statement for Mary Hatch, Inc., appears below. MARY HATCH, INC. Income Statement For the Year Ended December 31, 2012 Net sales............................$400,000 Cost of goods...

Answered: 1 week ago

Question

★★★★★
answer this Q please Help Save & Exit A company purchases merchandise with a catalog price of $20.500. The company receives a 30% trade discount from the seller. The seller also offers credit terms...

Answered: 1 week ago

Question

★★★★★
You need to write a paper on Rights and Responsibilities of Employers and Employees Regarding the Workers Compensation Laws

Answered: 1 week ago

Question

★★★★★
List out some inventory management techniques.

Answered: 1 week ago

Question

★★★★★
Determine the effects of Transactions on the Accounting Equation. Assets 1 $17,000 Liabilities + Owner's Equity " $ 7,000 + = $ 6,000 + $20,000 + $ 7,000 === $ 9,000 + $17,000 $ 2,000 + " $7,000 + -...

Answered: 1 week ago

Question

★★★★★
A brokerage survey reports that 39% of all individual investors have used a discount broker (one that does not charge the full commission). If a random sample of 115 individual investors is taken,...

Answered: 1 week ago

Question

★★★★★
3/8 of the plants needed water. 63 plants need water. How many plants are there total?

Answered: 1 week ago

Question

★★★★★
Problem 3-17 (Algo) Cost Flows; T-Accounts; Income Statement [LO3-2, LO3-3, LO3-4] Supreme Videos, Incorporated, produces short musical videos for sale to retail outlets. The company's balance sheet...

Answered: 1 week ago

Question

★★★★★
1. Family Tree. Interview the oldest member of your family you can contact. Then answer the following questions:

Answered: 1 week ago

Question

★★★★★
c. What were the reasons for their move? Did they come voluntarily?

Answered: 1 week ago

Question

★★★★★
5. How do economic situations affect intergroup relations?

Answered: 1 week ago

Previous Question Next Question