Answer:
December 26
Dr. Inventory $7,500
Cr. Account Payable $7,500
December 31
Dr. Account Payable $7,500
Dr. Discount Received $150
Cr. Cash $7,350
Explanation:
Credit terms of 2/10, n/30 means there is a discount of 2% is available on payment of due amount within discount period of 10 days after sale with net credit period of 30 days.
Purchase = $7,500
As payment is made within discount period, so the discount will be availed.
Discount = $7,500 x 2% = $150
Payment = $7,500 - $150 = $7,350
Answer:
You got this, never give up!
Explanation:
Believe in yourself. : )
Answer:Economic activities are those activities of man which are undertaken for earning money. Whereas non economic activities are those activities that are not undertaken for any monetary gain.
Explanation:
<span>When economists attempt to predict the spending patterns of U.S. households, they will typically view the DAILY COST OF LIVING as a primary determining factor that influences the individual consumption choices that each will make.
An economist can predict the spending power of the masses if he/she knows how much energy and monetary value is being spent on a daily basis. This way he/she will know the consumption choices that these consumers are making for themselves.</span>
