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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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Answer: A company is classified as simple business when revenues generated by the dominant business are greater than 95%.

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3 years ago
Which is a stepping-stone toward future education
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Answer:

A High School Diploma is a stepping-stone toward future education.

Explanation:

A High School Diploma will definitely be a perfect move and a stepping-stone towards future education, which undoubtedly, will pave the way for the further and higher education of the people. They can proceed ahead easier if they have achieved this first milestone. This will prove as the first step towards their educational journey, which surely need to be taken, at least, anyway.

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2 years ago
How does PDIC provides insurance?
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Answer: Philippine Deposit Insurance System.

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7 0
3 years ago
​"the application of quantitative techniques to purchasing data in an effort to better understand spending patterns and identify
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Spending analysis would use data to analyze purchasing data.

4 0
3 years ago
A machine can be purchased for $150,000 and used for five years, yielding the following net incomes. In projecting net incomes,
umka2103 [35]

Answer:

2.69 years

Explanation:

Payback period calculates the amount of the time it takes to recover the amount invested in a project from its cumulative cash flows.

To derive cash flows from net income, add depreciation to the net income.

Straight line depreciation = (Cost of asset - Salvage value) / useful life

$150,000 / 5 = $30,000

The depreciation expense each year would be $30,000.

Cash flow in year 1 = $30,000 + $10,000 = $40,000

Cash flow in year 2 = $30,000 + $25,000 = $55,000

Cash flow in year 3 = $30,000 + $50,000 = $80,000

Cash flow in year 4 = $30,000 + $37,500 = $67,500

Cash flow in year 5 = $30,000 + $100,000 = $130,000

In the first year, -150,000 + $40,000 = $-110,000 is recovered

In the second year, $-110,000 + $55,000 = $-55,000 is recovered

In the third year, $-55,000 + $80,000 = $25,000 is recovered.

The cash payback period is 2 years + $-55,000 / $80,000 = 2.69 years

I hope my answer helps you

6 0
3 years ago
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