Answer:
The amount received in cash is $2,328
Explanation:
The amount which is received in cash is computed as:
On January 20, the amount of $600 goods returns from customer, so the remaining balance is
= $3,000 - $600
= $2,400
On the remaining balance, the discount which is evaluated as the payment is received within the discount period which is January 25. So,
= $2,400 x (100% - 3%)
= $ 2,400 x 97%
= $ 2,328
Answer:
The correct answer is B
Explanation:
Contract Law is the law or an agreement among the private parties establishing the mutual obligations which is enforceable by law. The basic or primary elements are required for the agreement or contract to be legally enforceable agreement are expressed by a acceptance and valid offer, legality, mutual assent and adequate consideration.
The two most vital sources of the contact law are Statutory Law (The Uniform Commercial Code) and the Case law.
Answer: $0
Explanation:
Layla qualifies for $8,000 in housing credits.
These are withdrawn at $500 for every $1,000 she earns above the wage limit of $26,500
Layla's annual income = 35,000 + 7,500
= $42,500
Amount earned above limit = 42,500 - 26,500
= $16,000
Amount of housing credit withdrawn is $500 per thousand so for $16,000, $8,000 will be withdrawn from her housing credit.
Housing credit = 8,000 - 8,000
= $0
<span>To calculate the average collection period: the average accounts receivable balance divided by average credit sales per day.
With $1,000,000 per year, that is $2739.73 per day.
The average accounts receivable is ($80,000 + $60,000) / 2 = $70,000
$70,000 / $2,739.73 = 25.6 days</span>
