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11 months ago

The entry to record a sale of 1500 with terms of 2/7

1 answer:

4 0

There will be a credit of $1500 to Sales Revenue included in the entry to record a sale for $1500 with conditions of 2/7, n/30.

<h3>Why is there a 2/10 N 30 sales discount?</h3>

Explain the significance of the credit terms 2/10 and n/30. 2% of the invoice amount may be withheld by the buyer if payment is made within ten days of the invoice date. -A 30-day grace period, after which full payment is expected. duration of the discount The time period during which a customer can pay less and receive a financial discount.

The phrase "2/10 net 30" means that the consumer will save 2% if the entire payment is paid within 10 days. If not, full payment must be made in 30 days.

Learn more about credit terms 2/10 and n/30: brainly.com/question/18716859

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The correct answer is b. an implied contract.

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3 years ago

At the beginning of the period, the Cutting Department budgeted direct labor of $52,350 and supervisor salaries of $42,150 for 3

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Answer:

$77,000

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3 years ago

On June 1 of the current tax year Elisha and Ezra (who are equal partners) contribute property to form the Double E Partnership.

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Solution:

The relationship is called the deal to run the company by adding money, by distributing the business risk, etc. We share profit and loss from their relationship and the net profit is the partner's profits.

Calculating the basis of partners

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Particulars Amount $

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Add:

Share of the liability on the contributed land 70,000

Share of the construction debt 10,000

Share of the accounts payable debt 4,100

Share of partnerships taxable income 15,000

Hence, Elisha's basis in the partnership on December 30. $299,100

Ezra's basis in partnership

Particular Amount $

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Less: Debt assumed by the partnership 140,000

Add:

Share of liability on contributed land 70,000

Share of construction debt 10,000

Share of accounts payable debt 4,100

Share of partnerships taxable income 15,000

Ezra's basis in partnership on December 30. $299,100

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3 years ago

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Answer:

an unpredictable and long work schedule

Explanation:

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Answer:

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2 years ago