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weqwewe [10]
3 years ago
8

On November 10 of the current year, Flores Mills provides services to a customer for $8,000 with credit terms 2/10, n/30. The cu

stomer made the correct payment on December 5. How would Flores record the collection of cash on December 5?
A. Cash 7,840
Accounts Receivable 7,840
B. Cash 7,840
Sales Discounts 160
Accounts Receivable 8,000
C. Cash 7,840
Sales Revenue 160
Accounts Receivable 8,000
D. Cash 8,000
Accounts Receivable 8,000
Business
1 answer:
dezoksy [38]3 years ago
5 0

Answer:

D. Cash 8,000

Accounts Receivable 8,000

Explanation:

The commercial terms of the transactions are as follow:

2/10 within the first 10 days of the invoice The payment will be grnated with 2% discount

n/30 during the next 30 days of invoice date, the payment to cancel will be the nominal

The payment is after the discount period, it will be at nominal which is 8,000

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The buyer and seller of merchandise must agree on who is responsible for paying freight terms. Show your understanding of freigh
Bas_tet [7]

Answer:

c,d and e

Explanation:

The correct statements given in the options are as stated below:

(c)-Terms FOB shipping point means the buyer accepts ownership when the goods depart the seller's place of business.

<em>This is true because Free on Board shipping means that the seller bears no liability whatsoever once the goods are shipped.</em>

(d)-When the shipping costs are the responsibility of the buyer, then the Merchandise Inventory account is debited for the freight charges.

<em>This is true because Free on Board shipping means that the seller bears no liability whatsoever once the goods are shipped, hence the shipping costs are the buyers responsibility and will form part of the costs of the goods</em>

(e)-Revenue for the sale will be recorded after the goods reach their destination, if the goods are shipped FOB destination.

<em>This is true because Free on Board destination means that the seller bears all liability whatsoever till the goods are delivered, hence the revenue for the goods can only be recognized upon successful delivery</em>

7 0
3 years ago
The government of Ruritania has implemented many programs that promote equality, but has become concerned about the very slow ra
IceJOKER [234]

Answer: b. reduce taxes and cut back on some social programs

Explanation:

When the Economy is not doing well, Social programs are usually targeted as they usually take a lot of money from the Government's coffers.

It is also a generally held view that reducing taxes as a Fiscal policy can help stimulate the Economy by leaving the public with more funds to invest in and spend on the Economy.

The Government of Ruritania is therefore most likely to combine reducing Social programs as well as reducing taxes. This will have the effect of leaving the Government with some money as it loses revenue from taxes whilst also enabling the public to have more money to invest and to spend which will then lead to Economic growth.

8 0
3 years ago
In business, it is important to establish your _____ from your first day on the job
Alchen [17]

In business, it is important to establish your credibility from your first day on the job.

Gaining a reputation enables you to speak more persuasively and with greater ease. Work results and financial success are significantly impacted by the degree of trust in working relationships.

<h3>Why is it important to gain credibility?</h3>

Employee mistrust and disengagement are caused by ineffective leadership, which affects the organization's revenue as well as its reputation. According to studies, a leader's trustworthiness affects employee engagement, which in turn affects the performance and productivity of the firm.

your well-deserved reputation as a reliable person who does their work well cares about the people they work with and for, upholds high moral standards and values both personally and professionally, and keeps their word. The extent to which others trust or believe in you is referred to as credibility.

Learn more about credibility here:

brainly.com/question/8669599

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7 0
1 year ago
_____ is the breaking down of large shipments of similar merchandise into smaller, more usable quantities that can be sold to co
Arturiano [62]

Breaking bulk is the breaking down of large shipments of similar merchandise into smaller, more usable quantities that can be sold to consumers and end users

<h3>What is breaking bulk?</h3>

Breaking bulk can be regarded as the process involving delivering single units  to retail outlets,, this is different from delivering using alot of units.

Therefore,  breaking bulk involves distribution of goods and merchandise from the distribution centers using segments rather bulk.

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3 0
2 years ago
A broker-dealer and its agent are registered in State A. The agent tells a customer in State A that he is prohibited from making
OlgaM077 [116]

Answer:

There is a violation of Uniform State Law because the agent has made an offer to sell an unregistered non-exempt security in that State

Explanation:

The Uniform State Securities Law is also called blue sky law, and they are put in place at the State level to prevent fraud and to enforce security regulation.

This law was set up to handle investments that do not occur at the federal level. These are out of the purview of the SEC so states handle them.

In the given scenario the agent is trying to make a non exempt security exempt by buying it from the client.

This is an attempt to sell the securities to investors through fraudulent means and it is a violation of Uniform State Law

8 0
3 years ago
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