There will be a credit of $1500 to Sales Revenue included in the entry to record a sale for $1500 with conditions of 2/7, n/30.
<h3>Why is there a 2/10 N 30 sales discount?</h3>
Explain the significance of the credit terms 2/10 and n/30. 2% of the invoice amount may be withheld by the buyer if payment is made within ten days of the invoice date. -A 30-day grace period, after which full payment is expected. duration of the discount The time period during which a customer can pay less and receive a financial discount.
The phrase "2/10 net 30" means that the consumer will save 2% if the entire payment is paid within 10 days. If not, full payment must be made in 30 days.
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Answer:
C)
Explanation:
Based on the scenario being described within the question it can be said that the exception in these answers would be selling the finished clocks to customers. This is because this is a process that is done AFTER all the manufacturing processes have been done and the final output has been created. The question is asking about the processes BEFORE the final output.
The double surplus of worldwide stability of payments leads to the excessive boom of foreign exchange reserves.
Due to the fact region II runs trade (and perhaps funding income) and cutting-edge account surpluses, it's miles in the section of the young creditor kingdom. Combining the 2 areas as an entire, China runs “dual surpluses”—with a $50 billion USD contemporary account surplus, and a $100 billion USD capital account surplus, respectively.
Some of the explanatory factors for this surplus relate to the health crisis. The pandemic has caused a distortion in global demand away from leisure, tourism, and commodities, which China imports in huge quantities, toward clinical merchandise, IT, and domestic equipment, which China exports.
Furthermore, China's goods alternate surplus, the biggest contributing element to the modern-day account surplus, has long been sustained by using processing alternate which imports additives to make finished products for exports.
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The examples are given below:
- There are people who pursue a degree in theater rather than science, even though scientific careers are usually much higher-paying.= Consistent with the Predictions of Traditional Economic Models
- Some people care about how much money they make relative to other people rather than their absolute level of income.= Reserved for Behavioral Economics
- Some people would be willing to make a large sacrifice in order to help a loved one.= Consistent with the Predictions of Traditional Economic Models
- Some people treat $75 they earn differently from $75 they receive as a gift.= Reserved for Behavioral Economics
What is meant by Behavioral economics?
Behavioral economics combines elements of economics and psychology to understand how and why people behave the way they do in the real world. It differs from neoclassical economics, which assumes that most people have well-defined preferences and make well-informed, self-interested decisions based on those preferences.
What are behavioral economic strategies?
Behavioural economics aids marketing strategies by understanding how consumer decisions can be influenced. As a result, making small changes to the product, the branding or the choices you offer can massively influence consumer behaviour.
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Answer:
It will take up to 3 years for the total interest to exceed $5.00
Explanation:
The future value of an investment whose interest is compounded continuously can be expressed as;
A=P e^(rt)
where;
A=future value of the investment
P=initial value of investment
r=annual interest rate
t=number of years
In our case;
A=Initial value+interest=(100+5)=$105
P=$100
r=2.4%=2.4/100=0.024
t=unknown
replacing;
105=100 e^(0.024 t)
e^(0.024 t)=105/100
e^(0.024 t)=1.05
ln {e^(0.024t)}=ln 1.05
0.024 t ln e=ln 1.05
but ln e=1
0.024 t=ln 1.05
t=ln 1.05/0.024
t=2.03 years rounded up=3 year
It will take up to 3 years for the total interest to exceed $5.00
