Answer:
The amount of cash received on January 24 is $3332
Explanation:
The amount of cash received will be for the net amount of receivable after adjusting for sales returns and the sales discount as the payment is received within the discount period of 10 days as stated by the term 2/10 which means a 2% discount if payment is received within 10 days of sale.
The accounts receivable at January 15 after sale were $4500. Out of this amount, $1100 of returns are made. Thus, the remaining balance of accounts receivables after return is $4500 - $1100 = $3400
The discount received will be = 3400 * 2% = $68
Thus, the cash received on January 24 will be 3400 - 68 = $3332
Answer:
(B) What must be given up to acquire it
Explanation:
Opportunity cost, in a simple language, means trade-off or an income or savings that we need to forego.
It is the amount or value of a certain event or activity that must be given off due to choosing one alternative over another.
In this case, the salary of $50,000 per year is the opportunity cost.
Answer:
Emergency
Explanation:
Always have extra money for problems that arise.
During the 1970s, some economists argued that the cause of the woes of the economy was due to d.) supply shock due to issues with the supply of oil
<h3>What was the
economic crisis of the 1970s?</h3>
This refers to the term that is used to discuss and describe the economic crisis that threatened to engulf the United States financial sector due to certain influences such as the 1973 oil crisis, the fall outs of the Vietnam War under President Johnson and many other factors.
Hence, it can be seen that with these factors in mind, the main argument of some economists was that the cause of the woes of the economy was due to d.) supply shock due to issues with the supply of oil as can be found in option D which is true because of the supply shock which helped to cripple the US economy.
Read more about economic crisis of the 1970s here:
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