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3 years ago

8

A company makes a purchase for which the invoice is dated may 3 and shows terms of 3/10 1/20 n/45. what isthe last date by which

the company can pay the invoice and receive any cash discount at all?

1 answer:

satela [25.4K]3 years ago

7 0

The answer is may 23 because <span>They will receive a 3% discount if paid within 10 days, and a 1% discount if paid within 20 days. </span>

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Jones Company collected the following information to prepare its August bank reconciliation: Cash balance per books, August 31,

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Answer:

Adjusted cash balance as per books = $11,100

Explanation:

Given Cash balance as per books = $9,400

Add: Deposits in transit that is deducted by us but not added by bank thus added = $9,400 + $1,100 = $10,500

Add: Notes Receivables collected by bank but not added in books = $10,500 + $2,500 = $13,000

Less: Bank Service Charges as not deducted in books = $13,000 - $50 = $12,950

Less: Outstanding Checks as yet not cleared = $12,950 - $1,450 = $11,500

Less: NSF check as not received by bank = $11,500 - $400 = $11,100

Adjusted cash balance as per books = $11,100

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3 years ago

A quantity of inventory that provides protection against lost sales caused by unfulfilled demands from customers is called:_____

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Answer:

e) Safety stock.

Explanation:

The term that describes this form of safety-net for companies is called safety stock. Companies tend to have this in order to be able to maintain their business flow as efficiently as possible in case there are unforeseen increases in demand. Otherwise, if demand drastically increases and they do not have this safety stock the company will run out of stock immediately and lose out on sales as they wait for more stock to arrive, which can also cause that stock to sell out immediately due to the backed-up demand, which can lead to the business buying backed up for months.

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3 years ago

The ROI on sustainability efforts can be difficult to quantify because a. the payback period is on the same time frame. b. the p

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Answer:

B)the payback period is on a different time frame.

Explanation:

Return on sustainability investment can be regarded as performance measure that is been utilized in evaluation of the gains which is produced due to result of corporate sustainability initiatives as regards amount of money that is invested in those initiatives.

Sustainable return on investment can be regarded as methodology used in identification as well as quantifying of environmental and societal, impacts of investment as regards a projects and initiatives.

It should be noted that The ROI on sustainability efforts can be difficult to quantify because the payback period is on a different time frame.

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3 years ago

on july 1, 2024, a company acquired equipment. the company paid $187,500 in cash on july 1, 2024, and signed a $750,000 noninter

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$700,935 and debit discount on notes payable a working year is the correct answer among the group of choices.

<h3>What are debits exactly?</h3>

A debit is an accounting system item that demonstrates a gain in assets and a decrease in liabilities. Debits and credits are the two categories into which the entries fall in basic accounting. Debits are always offset by credit entries.

<h3>Is debit debt or credit?</h3>

A credit increases the balance in a liabilities account whereas a debit decreases it. In this manner, the credit for the loan would equal the debit for the cash on hand account, increasing the long-term debt account by the same amount.

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1 year ago

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3 years ago