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
worty [1.4K]
3 years ago
14

Devonshire, Inc. sold merchandise inventory on account at a price of $17,000 with payment terms of 2/10, n/30. The merchandise c

ost Devonshire $13,000. If the customer paid for the merchandise 5 days after receiving the invoice, how much cash was collected by Devonshire?
Business
1 answer:
kotegsom [21]3 years ago
4 0

Answer:

$16,660

Explanation:

Given that,

Merchandise inventory sold on account = $17,000

Payment terms are as follows: 2/10, n/30

Cost of merchandise sold = $13,000

Therefore, the amount of cash was collected by Devonshire is the amount of cash after deducting the 2 percent of merchandise inventory.

Cash was collected by Devonshire:

= Amount of merchandise sold × (1 - 2%)

= $17,000 × (1 - 0.02)

= $17,000 × 0.98

= $16,660

You might be interested in
Cheyenne is the manager of a local small hotel. just today cheyenne received word that a major convention will be coming to town
dexar [7]
<span>I've found the choices on this question.</span>
<span>A. the devil's advocate method </span>
<span>B. scientific management </span>
<span>C. the synergy method </span>
<span>D. the contingency viewpoint </span>
<span>E. the diversity viewpoint</span>

The answer is D. the contingency viewpoint. It is the right moment of posing a challenge to the owner of getting the opportunity and decision that would match the given situation. The manager then sees this as the right choice as she waits for the owner  
8 0
3 years ago
Identify a true statement about International Organization for Standardization (ISO) 9000:2000.
photoshop1234 [79]

Answer: The correct answer is "D. Its standards apply to all types of businesses, including electronics and chemicals.".

Explanation: The ISO 9000 standards are a set of Quality Control and quality management, established by the International Organization for Standardization (ISO). They can be applied in any type of organization or activity oriented to the production of goods or services. The standards include both the minimum content and the specific implementation guides and tools as well as the audit methods.

5 0
3 years ago
Stern Corporation's management wants to maintain a minimum monthly cash balance of $8,000. At the beginning of September, the ca
krek1111 [17]

Answer:

Stern must borrow 13,530dollars at least to achieve is minimum monthly cash balance.

Explanation:

beginning cash balance:             $  12, 270

cash receipts                               $  97,200

cash disbursements              <u>      $(115,000)   </u>

cash balance before financing:  $   (5,530)

minimun balance required          $    8,000

financing requirement: 8,000 - (-5,530) = 8,000 + 5,530 = 13,530

7 0
3 years ago
Athena Company provides employee health insurance that costs $15,100 per month. In addition, the company contributes an amount e
weqwewe [10]

Answer:

Debit to Employee Benefits Expense $21,140

Explanation:

Preparation of Athena Company entry to record the accrued benefits for the month

Using this formula

Accrued Expenses = Gross salary ×Percentage of the amount contributed+ Insurance cost

Let plug in the formula

Accrued Expenses= $151,000 × 0.04

= $6,040 + $15,100

= $21,140

Debit to Employee Benefits Expense $21,140.

Therefore the entry to record the accrued benefits for the month would include a: Debit to Employee Benefits Expense $21,140.

5 0
4 years ago
The first step of the financial planning process is to: A. develop financial goals. B. implement the financial plan. C. analyze
Serga [27]
The answer is C. analyze your current personal and financial situation
6 0
3 years ago
Read 2 more answers
Other questions:
  • Which of the following scenarios is a circumstance in which it would be ethical to practice confidentiality?
    11·2 answers
  • The following selected accounts appear in the adjusted trial balance for Deane Company. Indicate the financial statement on whic
    7·1 answer
  • Russell’s has a bond issue outstanding. The issue's indenture provision prohibits the firm from re-deeming the bonds during the
    10·2 answers
  • Tambe Electric Inc. entered into a written agreement with Home Depot to provide copper wire to Tambe at a price set forth in the
    9·1 answer
  • Suppose a stock had an initial price of $92 per share, paid a dividend of $2.30 per share during the year, and had an ending sha
    10·1 answer
  • Prompt What is liability?
    14·1 answer
  • The tragedy of the commons results when​ ___________. A. people are excluded from public goods. B. too many public goods are pro
    5·1 answer
  • The degree of customer contact measuresthe amount of time the customer is separated from the service delivery system.the amount
    14·1 answer
  • Who else is sitting somewhere, bored ash, looking for a convo?
    9·1 answer
  • Cecilia has studied economics and knows about the value and investment potential of diamonds. The price of
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!