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LuckyWell [14K]
3 years ago
14

The credit terms offered by Neutron Enterprise are 2/10, n/30. Neutron sold goods on account to James Company on Jun 14 for $300

. If James Company pays the bill on Jun 27, Neutron's journal entry to record the collection on account will include
Business
1 answer:
Pie3 years ago
5 0

Answer:

Cash A/C            Debit                    $300

  To James company                                  $300

(Amount collected from James Company for credit sale)

Explanation:

Cash A/C            Debit                    $300

  To James company                                  $300

(Amount collected from James Company for credit sale)

Note: The terms here provided that, 2/10, n/30.

Which means that 2% discount if payment made within 10 days, and total 30 days credit allowed.

Here the sales were made on 14 June, and payment received on 27 June that is it took more than 10 days as 10 days complete on 24 June.

Therefore, no discount will be offered.

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Powers Company reported net sales of $1,250,000, average Accounts Receivable, net of $73,500, and net income of $53,150. The acc
ipn [44]

Answer:

17 times

Explanation:

Data provided in the given question :-

Net Sales = $1,250,000

Average account Receivable = $73,500

Net Income = $53,150

So, the accounts receivable turnover ratio is given below :-

Accounts receivable turnover ratio = Net sales ÷ Average accounts receivable

= $1,250,000 ÷ $73,500

= 17 times

Hence the net income is ignored for calculating the account receivable turnover ratio.

4 0
3 years ago
What are the origins of the reactants and the destination of the products?
julsineya [31]
The origins of the reactants and the destination of the products are :
The products of aerobic respiration are carbon dioxide, water, and energy. The reactants are Glucose and Oxygen.
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8 0
3 years ago
Sela traveled from her home in Flagstaff to San Francisco to seek specialized medical care. Because she was unable to travel​ al
egoroff_w [7]

Answer:

The total medical expenses deductible before the​ 10% limitation is 2090

Explanation:

Solution

Recall that:

The Total expenses included is stated as follows:

Th Hotel room  is = $150 * two rooms * three nights

Mileage of = $900,

Miles = 1000

Doctor's bill ins an Francisco = 1,600

Now,

To next step is to find the total medical expenses deductible before the​ 10% limitation is given as follows:

Doctor's bill = 1,600

The total expenses  i hotel room is calculated as :150 * 1 *3 = 450

So,

The total = 1600 + 450 = 2050

It is also important to know that only 10% of the expense stay for the accompanied person is permitted

Therefore,

450*10% =45

Total 2050+45 = 2090

5 0
3 years ago
To ensure efficient, clear, communication, the national incident management system characteristics recommend the use of:
Flauer [41]

management system characteristics recommend the use of:

Technical language

4 0
3 years ago
Read 2 more answers
Madison Company issued an interest-bearing note payable with a face amount of $9,000 and a stated interest rate of 8% to the Met
castortr0y [4]

Answer:

zero

Explanation:

The activity in this scenario is fund raising/ issue note to a bank which is booked in financing activities, not in operating activities.

Thus we can said "there's no operating activity in Madison Company cash flow of 2016" if there's no other information.

7 0
3 years ago
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