Amount to be credited = $2,020
Outstanding balance = $480
Explanation:
The payment terms state that
- 3% discount may be taken within 10 days of the invoice date (up to May 20); or
- 1% discount may be taken within 15 days of the invoice date (after May 20 but not later than May 25); or
- The net amount is due within 60 days of the invoice date if advantage is not taken of the cash discounts offered.
- The 3% cash discount is not applicable as the payment was made on May 22 which is after the end of the discount period. However, the 1% discount is allowed, since payment on May 22 is within the 15-day period for the 1% discount.
Amount to be credited
= 2000 / (1−0.01)
= 2000 / (0.99)
= $2,020
Outstanding balance
= 2500 - 2020
= $480
<u>Answer:</u>
The correct option is Unit of account
<u>Explanation:</u>
One of the functions of money is Unit of accounts in economics. The worth of an object is measured in a distinct currency. One of the downfalls of unit of account is that it is regarded as the steady unit of account but inflation factor devastate the said assumption that money is steady. It is regarded as the basic property of the money.
Thus, the correct option will be Unit Of Account.
Answer:
The efficient outcome would be greater than 150 units.
B. Work/life balance so he can spend time with his children
Answer:
It should quite the job and do the organic soap business as it provides an economic gain which consider the implicit cost.
Explanation:
alternative (I)
revenues of 465,000
expenses (395,000)
net income 70,000
opportunity cost
wages from TV company (50,000)
net economic gain 20,000
alternative (II)
revenues 3,250,000
expenses<u> 3,275,000 </u>
net loss (25,000)
<u>opportunity cost</u>
wages from TV company (50,000)
net economic loss (70,000)
