Answer:
The cash paid on May 8 is: $5,880
Explanation:
Credit terms of 2/10, net 30 means that 2% discount for the payment within 10 days and the full amount to be paid within 30 days.
The company purchased $6,500 of merchandise on May 1. On May 6, it returned $500 of that merchandise.
The balance owed for merchandise = $6,500 - $500 = $6,000
On May 8, it paid the balance owed for merchandise, taking any discount it is entitled to.
The company took the appropriate discount:
2% x $6,000 = $120
The cash paid = $6,000 - $120 = $5,880
Answer:
Explanation:
Product vs Service Business
While it may seem to go against traditional thinking, in some ways there is very little difference between product based and service based companies. In actuality, both sell a product. The distinction between the two is that the product business sells a physical, tangible product, while the service business owner sells his skills as the primary product. In the service-based business, customers purchase the skills of a service provider or owner, such as a plumber or lawyer, This type of business has a strong emphasis on the client relationship and makes the customer's user experience very important. Product-based businesses, on the other hand, deliver physical products that are reasonably consistent in quality for each customer, making the customer experience fairly predictable.
Local or Global Consumer Markets
In general, when consumers are looking for new solutions they try to distinguish the different services/products of business and industry in the locality where they reside. As such, businesses need to target their product and service based businesses to the appropriate markets. Consumers located anywhere in the global market can purchase a product via the internet as long as they can have their purchase delivered locally and cost effectively. However, most service businesses can only provide services to customers within their local target market. For example, while a computer store can ship computers all over the world, a hairstylist will only attract clients within a reasonable driving distance from her home or business. As a result, businesses need to consider how their customer base will influence their marketing efforts.
pl. make it as brainliest if it's helpful to you...!!
Water is the home of fish. If there won't be water then there won't be fish as fish can't survive without water. Similarly, education is like the water and profession is like the fish. Education makes a person skilled, trained, capable to perform a job. If someone tries to do a job without gaining some sort of education then it will be very hard for them to do that particular job properly. Education provides us knowledge and skill to perform any task in a job efficiently and effectively. Education helps to develop one's confidence, knowledge, skills and makes one ready to do any type of job. Education makes a direct contribution to the production of skilled manpower. So without education there won't be any profession.
Answer:
Trade creation
Explanation:
Trade creation is the process where there is increase in economics welfare as a result of joining a free trade area for example a customs Union.
Consumption experiences a shift from high cost producers to low cost producers causing expansion in trade.
In the given instance due to formation of free trade agreement, high cost plastic production is now replaced with low cost import of plastics from the other company.
There is a shift from high cost producers to low cost producers as a result of trade agreement between the two nations.
Answer:
The average collection period is 56.25 days
Explanation:
The average collection period is the number of days' sales in receivables and calculated by using following formula:
The number of days' sales in receivables = 360/Accounts receivable turnover ratio
Accounts Receivable Turnover = Net Credit Sales/Accounts Receivable
Net Credit sales = Total Sales - the sales are for cash = $1,800,000 - 20% x $1,800,000 = $1,440,000
Accounts Receivable Turnover = $1,440,000/$225,000 = 6.4 times
The number of days' sales in receivables = 360/6.4 = 56.25 days
