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

Question

1 Approved Answer

Merchandise subject to terms 1/10, n/30, FOB shipping point, is sold on account to a customer for $17,500. The seller issued a credit memorandum for

Merchandise subject to terms 1/10, n/30, FOB shipping point, is sold on account to a customer for $17,500. The seller issued a credit memorandum for $4,000 prior to payment. What is the amount of the cash discount allowable? Answer a. $215 b. $175 c. $135 d. $140

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

Law, Business And Society

Law, Business And Society

Authors: Tony McAdams, Kiren Dosanjh Zucker, Kristofer Neslund, Kari Smoker

12th Edition

1259721884, 978-1259721885

More Books

Students also viewed these Accounting questions

Question

★★★★★
Managers, investors, and creditors usually have a specific focus when making decisions about a business. Required: Each of the following independent cases asks one or more questions. Identify the...

Answered: 1 week ago

Question

★★★★★
The mercury in a 1.0451-g sample was precipitated with an excess of paraperiodic acid, H5IO6: The precipitate was filtered, washed free of precipitating agent, dried, and weighed, and 0.5718 g was...

Answered: 1 week ago

Question

★★★★★
=+14. DVD production. Plastic covers for DVDs must be manufactured with enough precision so that a DVD can properly fit into the cover. Specifically, the diameter of the central plastic piece over...

Answered: 1 week ago

Question

★★★★★
Jefferson Animal Rescue is a private not-for-profit clinic and shelter for abandoned domesticated animals, chiefly dogs and cats. At the end of 2016, the organization had the following account...

Answered: 1 week ago

Question

★★★★★
hurons Manufacturing produces a single product identified as PFR. Data Orelating to the coming month are: Sales: estimated at 12 500 units. Selling price will be $95 per unit. Inventories: beginning...

Answered: 1 week ago

Question

★★★★★
The Grommet is manufactured in Thailand. Orders take 30 days to arrive via sea freight. With the costs of communications, customs, and freight, each order placed incurs an expenditure of $935. Once...

Answered: 1 week ago

Question

★★★★★
You manage a development organization. A member of one of your Scrum Teams keeps being interrupted by the "Operations Group", due to his domain expertise on a legacy application that is critically...

Answered: 1 week ago

Question

★★★★★
Worksheet 4: Measuring Supply Chain Performance; Inventory Measures The cost of goods sold last year at ZIP Corporation was$3,069,000(i.e., annual sales, at cost). The company operates 48 weeks per...

Answered: 1 week ago

Question

★★★★★
You could easily now be asking yourself "How could the speed of the bar possibly be constant when there is a force pulling it to the right and the rails are frictionless?" That is a very legitimate...

Answered: 1 week ago

Question

★★★★★
A welding process has been found to produce a bead which can be approximated by a triangle with its base equal to five times its height. Derive an equation for the bead Height based upon the volume...

Answered: 1 week ago

Question

★★★★★
Hey! Struggling with this question any help would be appreciated! A committee of 7 must be chosen to decide on a new school uniform. There are 9 adults and 19 students who wish to be on the...

Answered: 1 week ago

Question

★★★★★
3. Imagine a real event that brought joy to your past. What images, sounds, emo-tions, smells and tastes appear? Try to imagine a movie clip of this incident, as it could unfold if the circumstances...

Answered: 1 week ago

Question

★★★★★
7. Imagine yourself in a future situation that you know you do not thrive in. Try to bring with you that feeling of satisfaction from task 6 in the future uncomfortable situation. a. Highlight three...

Answered: 1 week ago

Question

★★★★★
1. Maintain my own perspective and my opinions

Answered: 1 week ago

Previous Question Next Question