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

Question

1 Approved Answer

ChickenX sold inventory on account at a price of $8,000 with payment terms of 2/10, 1/30. The merchandise cost Chickenx $3.000. If the customer paid

image text in transcribed
ChickenX sold inventory on account at a price of $8,000 with payment terms of 2/10, 1/30. The merchandise cost Chickenx $3.000. If the customer paid for the merchandise 5 days after receiving the invoice, how much cash was collected by ChickenX? Multiple Choice $8,000 $7,840 $3.000 $2.940

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_2

Step: 3

blur-text-image_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

Fundamental Financial Accounting Concepts

Fundamental Financial Accounting Concepts

Authors: Thomas P. Edmonds

11th Edition

1260786587, 9781260786583

More Books

Students also viewed these Accounting questions

Question

★★★★★
Active Management of Labor (AML) was introduced in the 1960s to reduce the amount of time a woman spends in labor during the birth process. R. Rogers et al. conducted a study to determine whether AML...

Answered: 1 week ago

Question

★★★★★
Research online for the latest country rankings for broadband service. Where does the United States currently rank? Why?

Answered: 1 week ago

Question

★★★★★
Where do you see yourself in 5/10 years?

Answered: 1 week ago

Question

★★★★★
Access the September 24, 2011, 10-K report for Apple, Inc. (Ticker AAPL), filed on October 26, 2011, from the EDGAR filings at www.sec.gov. Required 1. What products are manufactured by Apple? 2....

Answered: 1 week ago

Question

★★★★★
Sally is an attorney who computes her taxable income using the cash method of accounting. Sage Corporation, owned 40% by Sally's brother 40% by her cousin and 20% by her grandmother, uses the accrual...

Answered: 1 week ago

Question

★★★★★
There is a database that contains a website's traffic data over a period of 30 days. The first table contains users' information including the user type (user, crawler, admin). The second table...

Answered: 1 week ago

Question

★★★★★
A standard medicine is known to cure a patient in 85% of cases. A new medicine is proposed as being proposed as being superior to the standard medicine. We plan to give this new medicine to 2000...

Answered: 1 week ago

Question

★★★★★
2) Turbojet Engine A standard turbojet engine dries an airplane traveling with a velocity of 290 m/s at a height where the pressure is 28 kPa and the temperature is -40 C. The compressor pressure...

Answered: 1 week ago

Question

★★★★★
The FBI was conducting electronic surveillance of a mafia cell in New York City. At one end of the telephone conversation, a voice indicated that "I will remove the problem and bury it in the Hudson...

Answered: 1 week ago

Question

★★★★★
How do you find the IP address of your Linux machine using the command line? 2. (10 pt) Display your current directory in a terminal

Answered: 1 week ago

Question

★★★★★
A company uses a two-variance analysis for overhead variances, controllable and volume. The volume variance is the difference between the factory overhead applied at standard and: a. Total factory...

Answered: 1 week ago

Question

★★★★★
2. A test has two portions: verbal and math. The scores for each portion are positively correlated with a correlation coefficient of 0.55. A scatter diagram of the scores is football shaped. Scores...

Answered: 1 week ago

Question

★★★★★
3. Give three examples from your own everyday life where a piece of communi-cation is structured into a linear sequence, i.e. B is the cause of A.

Answered: 1 week ago

Question

★★★★★
2. What information is conveyed through a particular type of metaphor? The answer to the question gives us insight into what code the person using the metaphor uses, and thus an insight into how...

Answered: 1 week ago

Question

★★★★★
2. Give six examples that silence (not saying anything) or not responding can be very informative to the other party.

Answered: 1 week ago

Previous Question Next Question