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Yakvenalex [24]
3 years ago
13

Sheridan Company sells merchandise on account for $6400 to Carla Vista Company with credit terms of 2/10, n/30. Block Company re

turns $1800 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check
Business
2 answers:
Aliun [14]3 years ago
8 0

Answer: $4,508

Explanation:

Companies usually give discounts with credit terms to encourage Receivables to pay faster.

In this scenario, credit terms of 2/10, n/30 were offered which means that if Carla Vista Company pays within 10 days they get a discount of 2% but if they don't they should pay the full amount in 30 days.

They paid within the discount period meaning that they qualify for the discount of 2% but they however returned goods worth $1800.

So calculating for that would be,

= (6,400 - 1800) (1 - 0.02)

= $4,508

The amount of the check is $4,508

ryzh [129]3 years ago
4 0

Answer:

$4,508

Explanation:

Net sales before discount = $6,400 - $1,800 = $4,600

Since the credit terms is 2/10, n/30, it implies Block Company is entitled to 2% discount since it settled the account within 10 days of the discount period. Therefore, we have:

Discount = $4,600 × 2% = $92

Check amount = $4,600 - $92 = $4,508

Therefore, the amount of the check is $4,508.

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2 years ago
When analyzing the feedback on an evaluation form, a trainer should look for?
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2 years ago
Bart works as an accountant for Good Times Restaurant. He is responsible for not only keeping the books current but also for mak
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3 years ago
Question 7. The corporate charter of Gagne Corporation allows the issuance of a maximum of 100,000 shares of common stock. Durin
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Answer:

Share Authorized = 100,000 Shares  

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Data provided in the question:

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Number of shares reacquired by Gagne = 4,000

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3 years ago
g The Federal Reserve can lower short-run output by Group of answer choices lowering the real interest rate. increasing the mone
Viktor [21]

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