- Travel and Entertainment Credit    -     Consumers use cards with no interest and non-revolving balance.
-  Revolving Check Credit                 -      Consumers use prearranged loan using special checks.
- Closed-End Credit                          -       Consumers pay off dept and credit is automatically renewed.
- Revolving Credit                             -       Consumers take out a loan with a repayment date and have a specific purpose.
<h3>What is meant by Consumer Credit?</h3>
Consumer credit refers to debt incurred by an individual to pay for products and services. An example of consumer credit is a credit card.
Consumer credit might refer to any sort of personal loan, although it is more frequently used to denote unsecured debt that is incurred to pay for regular products and services. Consumer debt can, however, also refer to secured loans like mortgages and auto loans. 
Installment credit is given for a predetermined time period and is utilized for a specified purpose.
Open-ended revolving credit is a type of loan that can be applied to any kind of transaction.
To learn more about consumer credit from given link
brainly.com/question/14345325
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Answer:
<u>January 1, 2017</u>
Debit: Accounts Receivable $2800
Credit: Deferred Revenue[Wiring Base] - $1120
Credit: Deferred Revenue[Shelving Unit] - $1680
Narration: Contract Detail and invoicing of the client.
<u>February 5, 2017</u>
Debit Deferred Revenue[Wiring Base] - $1120
Credit Revenue Account - [Wiring Base] - $1120
Narration: Revenue recognition of Wiring Base delivered to customer
<u>February 25, 2017</u>
Debit Deferred Revenue[Shelving Unit]- $1680
Credit Revenue Account - [Shelving Unit] - $1680
Narration: Revenue recognition of Shelf delivered to customer
<u>February 25, 2017</u>
Debit: Bank - $2800
Credit: Accounts Receivable - $2800
Narration: Payment received in settlement of contract fully delivered
Explanation:
The question is an example of a Performance Contract. 
A Performance Contract is an agreement with a customer by a vendor to discharge a service or provide goods that are distinct from each other. The accounting for this obligations will therefore be recorded and recognized separately.
It is also important to note that the services or goods must be separately identifiable and the customer must be able to derive from each goods on individually or jointly.
The rule is to 
- Recognize the contract and invoice amount with the customer as Deferred Income.
- Identify the distinct obligations and services to be provided.
- Identify the transaction amount for each service or good.
- As each obligation is met, the revenue is finally recognized and transferred from Deferred income.
 
        
             
        
        
        
1.50*300=$450
0.5*350=$175
(175/450)*100=39%
Real GDP in 2012 is 39%
        
             
        
        
        
Answer: Please refer to Explanation. 
Explanation:
a. The company regularly follows up with customers who pay late. 
This is GOOD. 
Cash Management Strategy - Collection of Accounts Receivables on time to maintain cash balance. 
b. Excess cash is put into short-term investments to earn extra income.
This is GOOD. 
Cash Management Strategy - Earning extra income on idle cash by investing in short-term liquid investments. 
c. Cash receipts and cash payments are regularly planned and reviewed.
This is GOOD. 
Cash Management Strategy - Cash Planning to establish a correct balance between payments and receipts. 
d. Rarely used equipment is rented rather than purchased. 
This is GOOD 
Cash Management Strategy - Saving money by spending economically only when needed. 
e. Bills are paid as soon as they are received.
This is BAD
Cash Management Strategy - Paying bills when due to ensure that operating cash balance is maintained at a healthy level. 
If you need any clarification do comment. 
Cheers. 
 
        
             
        
        
        
Answer:
$152.4 million
Explanation:
The computation of the projected net income is shown below:
As we know that
Net income = (EBIT - interest) × (1 - tax rate) 
where, 
EBIT = Sales - operating cost 
= $700 × 120% - ($700 × 120% × 65%)
= $840 - ($840 × 65%)
= $840 - $546
= $294
The interest expense and tax rate is $40 and 40%
So, the projected net income is 
= ($294 - $40) × (1 - 40%) 
= $152.4 million
We simply applied the above formula so that the projected net income could be come