Answer:
a. have maturity dates of 3 months or less
Explanation:
Cash equivalents refer to those short term highly liquid security investments such as marketable securities like commercial papers which can be converted into cash within 90 days or 3 months.
Cash equivalents are characterized by their maturity period being 3 months or lesser.
Commercial papers and certificate of deposits maturing in less than 3 months constitute cash equivalents.
Two major characteristics of cash equivalents being, their maturity period being 3 months or lesser and their maturity value is not subject to fluctuations i.e it is known in advance.
Answer:
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The entry to record the receipt of payment is $2,590 in accounts receivable.
What is Trade discount?
Trade discounts, also known as functional discounts, are payments made to distribution channel participants in exchange for completing a task. Storage and shelf stocking are two examples of these tasks. Trade discounts are sometimes bundled to cover a variety of services. For instance, 20/12/5 may stand for 20% off for storing the merchandise, 12% more off for shipping, and 5% more off for keeping the shelves filled.
Terms 2/10, n/30 state that payments must be made within 10 days of the date of purchase to receive a 2% discount, and payments must be made in full within 30 days to avoid a discount.
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