Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 24, 2024

Company X sells on a 1/20 net 60 basis.Company Y buys goods with an invoice of $1500 a) how much can company Y deduct from

Company X sells on a 1/20 net 60 basis.Company Y buys goods with an invoice of $1500

a) how much can company Y deduct from the bill if it pays on day 20?

b) How many extra days of credit can company Y receive if it passes up the cash discount?

c) What is the effective annual rate of interest if Y pays on the due date rather than day 20?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

Technical Analysis The Complete Resource For Financial Market Technicians

Authors: Charles Kirkpatrick, Julie Dahlquist

3rd Edition

0134137043, 978-0134137049

More Books

Students also viewed these Finance questions

Question

★★★★★

What is the evidence of the trend toward fair value accounting?

Answered: 1 week ago

Question

★★★★★

At December 31, 2011, Hemington Company had 320,000 shares of common stock outstanding. Hemington sold 80,000 shares on October 1, 2012. Net income for 2012 was $1,985,000; the income tax rate was...

Answered: 1 week ago

Question

★★★★★

Determine the sample size required for a large sample 95% confidence interval for a population proportion when (a) ???? = 0.35 and the desired margin of error is ???????? = 0.04. (b) ???? = 0.75 and...

Answered: 1 week ago

Question

★★★★★

1. Evaluate Zagat using the competitive forces and value chain models. 2. Compare Zagats and Yelps e- commerce business models. How have those models affected each companys Web strategy? 3. Why was...

Answered: 1 week ago

Question

★★★★★

A group of developers are working on the same codebase. They need an online system to allow them to submit their work and check out work when others update their code. Which type of collaboration...

Answered: 1 week ago

Question

★★★★★

Od. Salaries Oe. Farm income QUESTION 18 186 190 Mary Lou took an $8,000 distribution from her educational savings account and used $6,000 to pay for qualified higher education expenses. The...

Answered: 1 week ago

Question

★★★★★

Clinics in Rwanda used to struggle to stock the correct amount of blood products for medical procedures and emergency care. Because the need for blood often arises with little warning via accidents...

Answered: 1 week ago

Question

★★★★★

Do you believe a lobby as powerful as the National Rifle Association (NRA) should be able to shape public policy within the United States, especially in light of its heavily biased position on the...

Answered: 1 week ago

Question

★★★★★

You were just hired as a Project Manager at ZYZ Consulting. XYZ Consulting specializes in planning competitive events for their clients. You are assigned to work with a client (you make up their...

Answered: 1 week ago

Question

★★★★★

ANSWER & EXPLAIN the questions: How does company analysis help in making a strategic plan? Why is it important to be familiarize with the format of a strategic plan?

Answered: 1 week ago

Question

★★★★★

You must now complete an analysis of the mobile phone market. Who are the key players? Create a list of companies in priority order based on sales. What are the key strengths and unique selling...

Answered: 1 week ago

Question

★★★★★

Coltunal Bychology Soeal differences hue loeen ard behven Hfsicale s original molel and Eningas replicahon a How did the sampe of particjpts diffe b)The rpliation data uas not andlypcd the same uau...

Answered: 1 week ago

Question

★★★★★

1. Discuss the following statements: a) When the cause is identified, the effect has always occurred already. b) Predictions made with hindsight are almost always correct.

Answered: 1 week ago

Question

★★★★★

2. Take a familiar problem as your starting point. What are the main elements of the problem? Discuss whether you all agree on the choice of main elements.

Answered: 1 week ago

Question

★★★★★

2. In this chapter, the reader should reflect on the following concepts: Context, winwin, win-lose, ambiguity, mental model, point of reference.

Answered: 1 week ago

Previous Question Next Question