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
AlladinOne [14]
4 years ago
13

Tamarisk, Inc. sells merchandise on account for $7400 to Cheyenne Corp. with credit terms of 2/15, n/30. Cheyenne Corp. returns

$1700 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check
Business
2 answers:
serg [7]4 years ago
7 0

Answer:

   Bank                                                       $5586  

Explanation:

In the books of Tamarisk Inc

Sr. No                Particulars                          Debit          Credit

1                        Accounts Receivable        $ 7400

                             Sales                                                $ 7400

2              Sales                                 $ 7400

                     Sales Returns                                       $ 1700

                     Sales Discount                                         $ 144

                      Bank                                                       $5586  

WORKING:

The amount of Check

Credit Sales Less Sales Returns= $ 7400- $ 1700= $ 5700

Sales Discount =2% of Credit Sales= 2% of $ 5700= $ 114

Bank Amount = Credit Sales less Sales Discount= $ 5700- $ 114= $ 5586

Vera_Pavlovna [14]4 years ago
5 0

Answer: $5,586

Explanation:

Tamarisk, Inc. sells merchandise on account for $7,400 to Cheyenne Corp. with credit terms of 2/15, n/30

Returned goods worth $1700 of merchandise that was damaged.

Total purchase. $7,400

Less: Return. ($1,700)

Net purchases. $5,700

Made pmt within the discount period of 15 days at 2% discount

Purchases of $5,700 x 2%. = $114

Total amount paid for the purchase is $5,700 - $114 = $5,586

You might be interested in
A certain firm produces and sells staplers. Last year, it produced 7,000 staplers and sold each stapler for $6. In producing the
ahrayia [7]

Answer:

<u>Average total cost for 7000 staplers was= $2.43</u>

Explanation:

Total Cost=Fixed Cost +Variable Cost

Fixed Cost =$45000-$28000

Fixed Cost=$27000

Average total Cost= Fixed Cost/ Quantity

=17000/7000

=$2.43

4 0
3 years ago
The Gramm-Leach-Bliley Act
Feliz [49]

Answer: a. requires financial institutions to ensure the security of customer data.

Explanation:

The Gramm–Leach–Bliley Act (GLBA), which is also known as the Financial Services Modernization Act of 1999 is an act of the 106th United States Congress.

The Act requires that Financial Institutions such as commercial banks, investment banks, securities firms, and insurance companies under the FINANCIAL PRIVACY rule ensure that they explained their information sharing principles of their customers' information to their customers and to safeguard sensitive data.

7 0
3 years ago
Which of the following decision-making perspectives assumes that consumers often make purchases and reach decisions based on the
enyata [817]

Answer:

The correct answer is a. Rational decision-making perspective.

Explanation:

The rational model pursues the constitution of a process of choice among alternatives to maximize the benefits of the organization. It includes a broad definition of the problem, an exhaustive collection and analysis of the data, as well as a careful evaluation of the alternatives. Andreu, in the year (2001), affirms that the criteria for evaluating alternatives are well known and assumes that the generation and exchange of information between individuals is objective and precise. Therefore, the rational decision-making model is based on 3 explicit assumptions:

- All available information related to the alternatives has been obtained.

- These alternatives can be classified according to explicit criteria.

- The selected alternative provides the maximum possible profit for the organization (or for decision makers).

3 0
3 years ago
What is cooperative skill​
Delvig [45]
A co-operative skill is the understanding of how to work effectively with other people on an equal basis towards commonly held aims and objectives
7 0
3 years ago
The national pork board of the united states wants to create more consumer demand for pork products. the board decides on how to
AleksAgata [21]
Teheheheehhehehehehehheehhehehehehe
5 0
4 years ago
Read 2 more answers
Other questions:
  • Polly Smith, a supervisor at Kroger's, was recently evaluated by her subordinates. Their responses indicated that Polly uses The
    7·1 answer
  • Fraudsters typically try to justify their behavior by telling themselves that they intend to repay the amount stolen or that the
    12·1 answer
  • Of the following, what actions would be most helpful as Andrew develops his own brand? Check all that apply. Emphasis his degree
    8·1 answer
  • What is the tax on an annual salary of 66000 dollars​
    13·1 answer
  • Which of the following movements started in Great Britain in the early 1980s when then Prime Minister Margaret Thatcher started
    6·1 answer
  • In the past there have been violent protests against the World Bank and the World Trade Organization. The protesters argued that
    9·1 answer
  • The process by which management plans, evaluates, and controls long-term investment decisions involving fixed assets is called _
    13·1 answer
  • The ____ rate is the interest rate banks charge each other for borrowing or storing money?
    15·2 answers
  • What Is NOT one of the three primary resources that farnilies have to reach financlal goals?
    12·2 answers
  • PLS HELP!!! THANK U<br> Sample Work: Writing an Informative Essay: Prewriting BATTLING ADVERSITY
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!