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maria [59]
3 years ago
6

Hunter’s paradise sells merchandize on account to outdoor haven for $3,280, terms 2/10, n/30. what should the journal entry be t

o record this transaction for hunter’s paradise?
Business
2 answers:
Schach [20]3 years ago
4 0
These are payment terms in the accounting. The first term 2/10 means that if you can pay the amount after 10 days, you would be given a 2% discount. If not, that's what the second terms means. This means you have to pay the net or full amount within 30 days.

So, if he can pay within 10 days, he will only have to give $3214.4. If not, then he would have to pay $3280 within 30 days.
kirza4 [7]3 years ago
4 0

Accounts Receivable $3280

Sales Revenue $3280

In accounting, the terms 2/10 and n/30 mean that they gave Outdoor Haven a 2% discount if paid in 10 days however, if they take 30 days to pay in full the amount will increase by 2%.

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Critically analyze the difference and points of convergence between floor inspection and functional inspection
r-ruslan [8.4K]

Answer:

Please refer to the below;

Explanation:

Difference between Floor inspection and Functional inspection.

• Floor inspection is usually conducted in a production environment. It involves checking of materials while processing in the machine by inspectors. Rather than checking the materials in the machine at the beginning of production, floor inspection checks the materials while in process inorder to ensure that the defected ones are quickly detected and expunged. It also ensure that the equipments used in processing are properly functioning.

• Functional inspection is an inspection that checks the overall function of a product rather than what makes up the component parts. For instance the load capacity and speed of a vehicle can be checked for optimal performance whereas individual parts that make up the vehicle are not checked, yet bring out satisfactory performance when combined together. This form of inspection is concerned with verification of final output and does not provide details about different sections instead provides a wider understanding of comfort that emanate from inspecting same item.

Points of Convergence between Floor inspection and Functional inspection.

• The key objective of both floor and functional inspection is quality output having reviewed and examined their expectations.

• Both floor and functional inspection work to prevent defective product from flowing down the successive operations and avoid loss to the company

• Both floor and functional inspection aim at meeting customers requirements, wants and needs.

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