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3 years ago

An invoice for 450 has terms 2/10, 1/30, n/60. if you pay on the eighth day, how much will you remit

Business

2 answers:

fiasKO [112]3 years ago

8 0

Answer:

$441

Explanation:

The terms 2/10, 1/30, n/60 mean that if you pay within a 10 day period you can get a 2% discount, if you pay within a 20 day period you can get a 1% discount, and if you pay between day 21 and 30, you must pay the full invoice amount. If the client pays later than 30 days, the company will probably charge them a late fee or some interest.

If the invoice was $450 and you pay within 8 days, you will get a 2% discount, and your total payment = $450 x 98% = $441

Ede4ka [16]3 years ago

6 0

This would be your answer 450*. 98=$441

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geniusboy [140]

Answer:

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Explanation:

1. Preparation for the journal entries to record Moss’s investment

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Exercise 8-07 At December 31, 2019, Pharoah Company Company had a credit balance of $18,100 in Allowance for Doubtful Accounts.

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Answer:

Entries are given below

Explanation:

DATA:

Opening Balance in the allowance for doubtful debt = $18,100

During 2020 Pharoah company wrote off accounts totaling 12,900

Entry DEBIT CREDIT

Allowance for Doubtful Accounts $11,800

Accounts Receivable $11,800

At December 31, 2020, an aging schedule indicated that the balance in Allowance for Doubtful Accounts should be $23,700

Entry DEBIT CREDIT

Bad debt expense $17,400

Allowance for doubtful debt $17,400

Working

Balance before adjustment = $18,100 - $11,800

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3 years ago

Venzuela Company’s net income for 2020 is $50,000. The only potentially dilutive securities outstanding were 1,000 options issue

aev [14]

Answer:

$4.67 per share

Explanation:

The calculation of the diluted earning per share is given below:

= (Total income - preference dividends) ÷ (outstanding shares + diluted shares)

where,

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Outstanding shares is 10,000

And, the diluted shares is computed by following calculations

Amount paid towards shares = Options issued × Exercise price per share

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Therefore,

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= Options issued - value of options

= 1,000 - 300

= 700

So Diluted Earnings per share is

= ($50,000) ÷ (10,000 + 700)

= $4.67 per share

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