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mr Goodwill [35]
2 years ago
12

Describe good cash management practices involving inventory purchases. (Check all that apply.) Multiple select question. Buyers

should take advantage of early payment discounts. Inventory should be purchased with cash whenever possible. Invoices should be paid on the last day of the discount period. Invoices should be paid on the first day of the discount period.
Business
1 answer:
Goshia [24]2 years ago
7 0

Answer:

Invoices should be paid on the last day of the discount period.

Buyers should take advantage of early payment discounts.

Explanation:

Cash management can be regarded as

process involvinh collection and management of cash flows. Cash management is very crucial for individuals as well as companies as far as financial stability is concerned. It should be noted that good cash management practices involving inventory purchases;

✓Invoices should be paid on the last day of the discount period.

✓Buyers should take advantage of early payment discounts.

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Answer:

d.an unfavorable change in the efficiency of using fixed assets to generate sales.

Explanation:

Since as we can see in the given situation that there is the reduction in the fixed asset turnover ratio i.e. it is reduced from 3 to 2.2 this means that there is a change i.e. unfavorable or non-favorable with respect to the efficiency of applying the fixed asset in order to producing or generating the sales

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Sally is in the business of purchasing accounts receivable. Last year, Sally purchased an account receivable with a face value o
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Answer:

Sally’s basis in the Account Receivable is $60,000

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The Account Receivable can be defined as a Debt Instruments. Debt instruments in accounting are valued at Lower of Cost or Net Realizable Value.  

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Below is the accounting entries to record the transaction and recognized profit.

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Debit: Account Receivable Account(Debtors)    60,000.00    

Credit: Account Receivable Purchase Account      60,000.00  

     

For the payment of the A/R    

Debit: Account Receivable Purchase Account    60,000.00    

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Debit: Bank    65,000.00    

Credit: Account Receivable Account(Debtors)       60,000.00  

Credit: Profit & Loss        5,000.00  

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