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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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Elaine takes out a $100,000 mortgage on December 1, 1997. Elaine will repay the mortgage over 20 years with level monthly paymen
Dmitrij [34]

Answer:

I prepared an amortization schedule using an excel spreadsheet. The original monthly payment was $836.44. After the 120th payment, the remaining principal balance was $68,940.64. Since she didn't pay anything for 1 year, the new principal balance will be $68,940.64 x (1 + 8%) = $74,455.89

I prepared another amortization schedule for the remaining 9 years, and the monthly payment is $969.32. She will pay off the loan in 108 months.

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8 0
3 years ago
Could someone help me
Natasha2012 [34]
The answer is A. ^^ hope that helps!
5 0
2 years ago
3. Prepare journal entries to record the machine’s disposal under each separate situation: (a) it is sold for $22,000 cash; (b)
Fofino [41]

Answer and Explanation:

The Journal entries are shown below:-

1. Cash Dr, $22,000

Accumulated depreciation-machine Dr, $148,800

($201,600 - $23,040 ÷ 6 × 5)

Loss on Sale of Machine Dr, $30,800

                 To Machine $201,600  ($192,000 + $8,000 + $1,600)

(To record Sale of the machine)

2. Cash Dr, $88,000

Accumulated depreciation-machine $148,800

($201,600 - $23,040 ÷ 6 × 5)

          To Gain on Sale of Machine $35,200

          To Machine $201,600

(Being Sale of the machine is recorded)

3. Cash Dr, $32,500

   Accumulated depreciation-machine Dr, $148,800

   Loss on disposal of Machine $20,300

                To Machine $201,600

(Being Sale of the machine is recorded)

7 0
3 years ago
What is the correct statement about regressive taxation?
Karolina [17]

Answer:

B. The sales tax you pay when you fill your car up with gas is regress

Explanation:

Gasoline tax is regressive because everyone regardless of their income level pay the same amount of tax per gallon of gas purchased. A progressive tax means that people that have higher incomes will pay a higher tax rate, for example, federal income taxes. Every flat tax (same percentage for everyone) is regressive.

8 0
2 years ago
Which of the following could a typical third grader handle?
N76 [4]

10-15 push ups: it's because pull-ups are taxing for an 8 year old, using my brother for an example who can hardly lift himself up. Sit-ups are taxing on the back due to the amount of muscular endurance and strength while a mile running-I laugh- converted to meters is approximately 1609 meters. I'm in Junior high yet I can  only do 900. Thus, it can be concluded the most appropriate activity a third grader could handle is a simple push-up.  

4 0
3 years ago
Read 2 more answers
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