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Answer:
The Net Sales that will reported on the Income Statement from these transactions is $1,000.
Explanation:
The term "2/10, n/30" implies that the customer will enjoy a 2% discount if it pays within 10 days but must pay the total amount within 30 days.
However, customer paid on May 20 which is outside the 2% discount period. This implies the customer did not enjoy the 2% discount. That is, the customer paid the full amount of $1,000. Therefore, the net sales is $1,000 from these transactions.
Therefore, the Net Sales that will reported on the Income Statement from these transactions is $1,000.
Setting up a file mgmt system on a computer could simply involve placing files in appropriate folders to separate different categories of files like say photos of different subject matter. A challenge might be deciding what files to put where as some of them may have affinities for another topic as well so clear criteria would have to be made as to the content of each folder. Also, like say a folder with invoices it would have to be decided if the invoices would be shown for the whole history of invoices or separated into years.
Answer:
$23,241.07
Explanation:
To determine the annual annuity, this formula would be used
PV = FV / annuity factor
Annuity factor = {[(1+r)^n] - 1} / r = (1.09^10 - 1 ) / 0.09 = 15.192930
$353,100 / 15.192930 = $23,241.07
Actual means the real selling price for the product paid by the customer whereas proposed selling price is the price which was suggested to be set for the product.