1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
rusak2 [61]
3 years ago
5

On June 15, Kersee Company sold merchandise on account to Eng Co. for $1,000, terms 2/10, n/30. On June 20, Eng Co. returns merc

handise worth $300 to Kersee Company. On June 24, payment is received from Eng Co. for the balance due. What is the amount of cash received on June 24?
Business
1 answer:
Nookie1986 [14]3 years ago
8 0

Answer:

The amount received on June 24 is $686

Explanation:

given data

sold  account = $1,000

terms = 2/10, n/30

returns merchandise = $300

to find out

amount of cash received on June 24

solution

we know here that payment is made within the discount period

that is discount period  =   10 days

so amount received will be here

amount received = sold  account  - returns

amount received = $1000 - $300

amount received = $700

and discount is here

discount = 2% of amount received

discount = 2% × $700

discount = $14

so

amount of cash received is = amount received - discount  

amount of cash received is = $700 - $14

amount of cash received is $686

You might be interested in
Bullie Jean has $1.20 to spend and wants to buy cither a new amplifier for her guitar or a new mp3 player to listen to music whi
Rasek [7]

Answer: b. people face trade-offs

Explanation:

From the question, we are informed that Bullie Jean has $120 to spend and wants to buy cither a new amplifier for her guitar or a new mp3 player to listen to music while working out.

We are further informed that the amplifier and the mp3 player cost $120, each and so she can only buy one. This shows that people face trade offs and have to make a choice regarding some decisions. Here, an opportunity cost will be the one that she didn't buy at the expense of the other.

6 0
3 years ago
Laura is using rent-to-own store to purchase a computer valued at $1,000. she is paying $25 per week for 104 weeks(2 years). why
aev [14]
Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.
The loan contribute negatively to her financial well-being is because it takes longer for here to finish paying off the credit. 
5 0
3 years ago
Read 2 more answers
Your company manufactures riding lawn mowers.One of your customers,Marie,writes a claim,demanding a compensation for her faulty
Alekssandra [29.7K]

Answer: D) As stated in our contract,we are liable to pay compensation only when our personnel repair the equipment

Explanation:

Based on the information given in the question, the best way to phrase the refusal of Marie's claim for adjustment is that "As stated in our contract, we are liable to pay compensation only when our personnel repair the equipment".

Since a service executive in the company discovers that the mower was dismantled by someone, then Marie's claim for adjustment can be refused since it wasn't dismantled by someone from the company.

4 0
3 years ago
What is the meaning of the full faith and credit clause
Yuki888 [10]

Hello!

the full faith and credit clause explains the fact that states within the United States have to respect the public acts, records, and judicial proceedings of every other state.

for example, if someone has a driver's license in Vermont, it will be considered valid in new mexico.

or if someone were to get married in California, they would still be married if they move to Virginia.

I hope this helps, and have a nice day!

6 0
3 years ago
Earl was known for driving 30 miles just to save a dollar on the price of case of his favorite carbonated beverage. Earl perceiv
Marianna [84]

Answer:

Money Paid

Overall Sacrifice

Explanation:

The two major dimensions of pricing are Monetary and Non- Monetary pricing.

Monetary pricing is the liquid asset like cash that is spent to acquire goods and services while the non monetary are other costs apart from money like time , stress , distance that it costs to acquire an item .

The individual perception of pricing has a way of affecting its choice when it comes to purchasing.

Earl did not consider the cost of stress in travelling 30 miles in order to save a $1 in his purchase decision as his mindset is programmed to the price paid being the real price  while most other customers considers the sacrifice involved before making a purchase decision.

3 0
3 years ago
Other questions:
  • Sarah and Luke each purchased $125 of merchandise from Owens Grocers on account. The terms of both sales were 1/7, n/30. Account
    7·1 answer
  • Production activities are done as needed in order to satisfy a specific demand.
    12·1 answer
  • Suppose the federal government had budget deficits of $40 billion in year 1 and $50 billion in year 2 but had budget surpluses o
    10·1 answer
  • EA3.
    5·1 answer
  • Suppose a company will issue new 20-year debt with a par value of $1,000 and a coupon rate of 8%, paid annually. The issue price
    10·1 answer
  • Consider a two-period model of a perfectly competitive firm that owns the rights to a finite deposit of a non-renewable resource
    15·1 answer
  • Assume the following information: Amount Per Unit Sales $ 300,000 $ 40 Variable expenses 120,000 16 Contribution margin 180,000
    12·1 answer
  • Just half a decade after the 2008 global financial crisis, an estimated 50 _______ individuals were, from a statistical point of
    13·1 answer
  • Zhao Co. has fixed costs of $354,000. Its single product sells for $175 per unit, and variable costs are $116 per unit. If the c
    5·1 answer
  • SEE
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!