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

Question

1 Approved Answer

XYZ company sells the goods on account for $5,000 to ABC Company on March 10 with a credit term of 2/15, n/30. ABC company returns

image text in transcribed

XYZ company sells the goods on account for $5,000 to ABC Company on March 10 with a credit term of 2/15, n/30. ABC company returns the damaged goods worth $750 along with the payment to settle the account on March 17. What is the amount paid by ABC Company to settle the account? a. $4,250 b. $5,000 . $4,900 d. $4,165

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

Medical Record Auditor A Guide To Improving Clinical Documentation In A Changing Health Environment

Medical Record Auditor A Guide To Improving Clinical Documentation In A Changing Health Environment

Authors: Deborah J. Grider

4th Edition

1622021010, 978-1622021017

More Books

Students also viewed these Accounting questions

Question

★★★★★
Which joint-cost-allocation method is supported by the cause-and-effect criterion for choosing among allocation methods?

Answered: 1 week ago

Question

★★★★★
What deposit made at the end of each quarter for 15 years will accumulate to $20 000 at 6% compounded quarterly?

Answered: 1 week ago

Question

★★★★★
32. Determine the long-run proportion of time that XN(t)+1 Answered: 1 week ago

Answered: 1 week ago

Question

★★★★★
A partial statement of financial position of Century University is shown below. During the fiscal year ended June 30, 2008, the following transactions occurred: 1. A gift of $100,000 was received...

Answered: 1 week ago

Question

★★★★★
Flexible budget for selling and administrative expenses for a service company Digital Solutions incutes lexible budgets that are based on the following data: Sales commissions 8% of sales Advertising...

Answered: 1 week ago

Question

★★★★★
Menlo Company distributes a single product. The company's sales and expenses for last month follow: Total $ 632,000 442,400 189,600 146,400 $ 43,200 Per Unit $ 40 28 $ 12 Sales Variable expenses...

Answered: 1 week ago

Question

★★★★★
Following is a sample from a population with median m. Use the sign test to test H0: m = 30 versus H1: m 30. a. What is the value of the test statistic? b. Is H0 rejected at the = 0.05 level? c. Is...

Answered: 1 week ago

Question

★★★★★
The registrar at a college sampled 30 students and recorded the GPA for each, as shown below. Can you conclude that the median GPA is less than 2.90? Use the = 0.05 level of significance. a. State...

Answered: 1 week ago

Question

★★★★★
Compute the value of the test statistic for the following sample, for testing H0: m = 50 versus H1: m Answered: 1 week ago

Answered: 1 week ago

Question

★★★★★
One \(\mathrm{J} / \mathrm{kg}\) is equal to (a) \(1 \mathrm{kPa} \cdot \mathrm{m}^{3}\) (b) \(1 \mathrm{kN} \cdot \mathrm{m} / \mathrm{kg}\) (c) \(0.001 \mathrm{~kJ}\) (d) \(1 \mathrm{~N} \cdot...

Answered: 1 week ago

Question

★★★★★
On 5 January, the day of her successful grand opening of Hair Affair Pty Ltd, Kate Brown collected \($2280\) in cash for hair styling services, and paid \($400\) in wages and \($92\) for rent. Kate...

Answered: 1 week ago

Question

★★★★★
Did the event wind up costing the members any money? Thanks to the donations of local restaurants and supplies provided by the county sanitation department, the event cost the group absolutely...

Answered: 1 week ago

Question

★★★★★
1. Your chemistry professor assigned a full-semester group project and has asked you to take the lead in your group because chemistry is your best subject. When it comes down to assigning your tasks...

Answered: 1 week ago

Question

★★★★★
Consider three groups to which you belong. Is there a clearly established leader for each group? If so, what type of power does this leader have? Do you find certain types of power more ethical or...

Answered: 1 week ago

Previous Question Next Question