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
Juan, not a dealer in real property, sold land that he owned. His adjusted basis in the land was $700,000 and it was encumbered
Zielflug [23.3K]

Answer:

45.45%

Explanation:

The total selling price was $200,000 (paid on the date of the sale) + $900,000 (note received) = $1,100,000

Juan's cost of he land = $700,000 (basis) - $100,000 (mortgage) = $600,000

Juan's profit = $1,100,000 - $600,000

Juan's gross profit percentage = $500,000 / $1,100,000 = 45.45%

6 0
3 years ago
A pegged exchange rate means the value of the currency is fixed relative to a reference currency
ruslelena [56]
Are you asking if it’s true or false?
5 0
3 years ago
the difference between the actual quanity and the standard quanity, multiplied by the standard price is the
dalvyx [7]

Answer: Direct materials quantity variance.

Explanation:

Direct Material quantity variance is the difference between the actual quantity of materials used in production and the standard quantity that was supposed to be used, multiplied by the standard price of the material.

It is a method that checks the company's efficiency is being able to use raw materials to produce goods. If the Actual quantity needed is greater than the Standard quantity, this will be considered an Unfavorable Variance and mean that the company was not efficient in using the materials.

Causes of this can be low quality of materials and inadequate employee training.

6 0
3 years ago
Jim is in the market for a car that will last for the next 10 years and has saved up some money for the purpose of a car. What’s
Ivanshal [37]

The best transportation option for Jim is C. Utilizing his saving as a down payment and buying the car using an auto loan.

<h3>Further explanation </h3>

Auto loan is a loan secured for the expressed purpose of purchasing a car. We can save money by paying off your car loan early. Because we are most likely more than halfway through our loan, most of our payment is currently going toward the principal.

There are four basic building blocks of a car loan:

1. Loan Cost : the principal and the interest. The principal is the negotiated cost of the vehicle itself.  The interest refers to the total amount of the costs accrued over the life of the loan based on the principal amount and the stated interest rate.

2. Interest Rate : a basic rate charged to the borrower for the money loaned.

3. Down Payment : an upfront amount of cash paid by the borrower at the time of the purchase of the vehicle.

4. Terms and Conditions : all of the other items that make up a car loan, including the term of the loan, normally stated in a number of months or years; insurance and registration requirements; loan payoff and resale terms;  etc

<h3>Learn more</h3>
  1. Learn more about auto loan of car brainly.com/question/12389122
  2. Learn more about Leasing car brainly.com/question/3068511
  3. Learn more about Renting car brainly.com/question/11856182

<h3>Answer details</h3>

Grade:  9

Subject:  business

Chapter:  car

Keywords:  the market for a car, money,  the best transportation option, saving, auto loan.

5 0
3 years ago
Read 2 more answers
3.6.2 Teut (COT): The Pret la foi
koban [17]

The correct answer is B. Rural areas

Explanation:

High population densities, as well as high housing prices, are mainly found in cities or nearby areas as most jobs and industries are located in these areas. This increases not only the number of people that live in these zones but also the price of housing as the prices of properties are higher due to a higher demand. This means, zones such as inner-city neighborhoods, suburbs, and similar are highly populated and the house prices are high.

On the other hand, nowadays rural areas have a small population density because most people are not interested in living in rural areas as it would take more time to get to cities where jobs and major industries are. Similarly, the housing prices are lower because the demand or number of people interested in buying properties is lower, which makes general housing prices lower.

3 0
3 years ago
Other questions:
  • A broker produces a buyer who is interested in buying a listed property. At closing, the seller is unable to provide marketable
    15·1 answer
  • Overall levels of income, employment, and prices are determined by the spending and production decisions of all of the following
    11·1 answer
  • Instruments had retained earnings of $ 390 comma 000 at December​ 31, 2017. Net income for 2018 totaled $ 220 comma 000​, and di
    11·1 answer
  • Mark each statement if it correctly describes facts about China during the Sui dynasty.
    10·1 answer
  • Jones runs a television ad that shows her opponent smith in black and white looking tired toward the end of the ad jones appears
    14·1 answer
  • Accidental puncture by a sharp object contaminated with the pathogen.
    8·2 answers
  • Miami Corp. obtained the following information from its accounting records:
    10·1 answer
  • The Red Bud Co. pays a constant dividend of $2.40 a share. The company announced today that it will continue to do this for anot
    11·1 answer
  • Here a rap what yall think its called disrespect
    14·2 answers
  • Which is not an object to taxation?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!