1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
saul85 [17]
3 years ago
10

Sarah just received an invoice for $12,000 with terms of 2/10, n/30. The invoice date was June. Her contract with the vendor ind

icates a charge of 1.5 percent per month on late payments.If Sarah pays this bill on June 15, she will send the vendor a check for:______.A) $11,760.B) $12,000.C) $12,180.D) Cannot answer without more information.
Business
1 answer:
n200080 [17]3 years ago
5 0

Answer:

B: $12,000

Explanation:

Sarah will pay $ 12,000 as the invoice has a term that indicates a cash discount (2/10) of 2% if payment is made with in 10 days from the date of invoice and (n/30) no discount is given if payment is made after 30 days.

As Sarah paid the invoice after 15 days of invoice assuming the invoice date was 1st June then no discount is received by Sarah.

No interest of late payment has also been charged as it pays the invoice with in the normal 30 days credit limit.  

You might be interested in
________ is the movement to protect the valid interests of consumers and is a major force in small business today.
andre [41]
Consumer protection is the movement to protect the valid interests of consumers and is a major force in small business today
7 0
3 years ago
Branch Corporation issued $12 million of commercial paper on March 1 on a nine-month note. Interest was discounted at issuance a
siniylev [52]

Answer:

1                   Cash                                                     11,190,000

                      Discount on Note Payable                810,000

                       Note Payable                                          12,000,000

2-                 Interest Expense                                   810,000

                          Discount on Note Payable                    810,000

3-                  Note Payable                                       12,000,000

                           Cash                                                     12,000,000

Explanation:

In order to pass the Journal entry for issuance of Note Payable. First we need to calculate the Discount on issue of Bond Payable. The discount on note payable is calculated using the 12,000,000 x 9% x 9/12 = 810,000. In case of note payable is discount is interest expense for issuer hence on due corporation will pay full value of note to purchaser of note.

8 0
3 years ago
If the closing costs were 5% of the loan amount, how much was the loan amount?
scoray [572]
B) $70,880..........................
5 0
3 years ago
Jeff receives a paycheck of $2,100 twice per month. His monthly expenses include: $1,500 on rent, $400 on a car payment, $120 fo
In-s [12.5K]

Answer:

$1,280

Explanation:

Given that,

Rent expense = $1,500

Car payment = $400

Cellphone expense = $120

Utilities = $450

Groceries expenses = $250

Entertainment expenses = $200

Jeff receives a paycheck of $2,100 twice per month, the amount received in a month is calculated as follows:

= $2,100 × 2

= $4,200

The amount left after deducting all of the expenses:

= Amount received - Rent expense - Car payment - Cellphone expense - Utilities - Groceries expenses - Entertainment expenses

= $4,200 - $1,500 - $400 - $120 - $450 - $250 - $200

= $1,280

Therefore, he have left over $1,280 for the month.

7 0
3 years ago
A buyer is closing on the purchase of a residence. The taxes for the year are estimated to be $4,780. The closing date is Januar
Aneli [31]

Answer:

For seller = $196.44

For buyer = $4583.56

Explanation:

Data provided in the question:

Taxes for the year = $4,780

Date of closing = January 16

since the day of closing belongs to the buyer therefore the seller owns the tax for 15 days only

Per day tax = [ Taxes for the year ] ÷ 365

= $4,780 ÷ 365

= $13.095 per day

Hence,

Proration will be

for seller = $13.095 per day × 15 days

= $196.44

For buyer = $4,780 - $196.44

= $4583.56

6 0
3 years ago
Other questions:
  • Tee gave an informative speech on the poor quality of potable drinking water available locally. he brought in a test kit and pre
    7·1 answer
  • A clothing company wants to entice consumers to pay more for their products. To do this, the company launches an advertising cam
    8·1 answer
  • On January 1 of the current year, Jimmy's Sandwich Company, Inc. reported stockholders' equity totaling $122,500. During the cur
    14·1 answer
  • Which of the following statements is true regarding a cross-functional team?A) A cross-functional team is made up of employees f
    13·1 answer
  • Arthur is a 30 percent partner in the CAR Partnership. At the beginning of the tax year, Arthur's basis in the partnership inter
    11·1 answer
  • It's time to think like a manager. Corporate social responsibility is wonderful, though often criticized as purely rhetorical an
    12·1 answer
  • The gross domestic product (GDP) of the United States is defined as the market value of allfinal goods and services produced wit
    13·1 answer
  • I need this really fast pleaseeee
    15·1 answer
  • It is important to gather as many accounting metrics as possible because they have intrinsic value and do not need a context in
    9·1 answer
  • Why do many people have a fraught relationship with money?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!