1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
stich3 [128]
2 years ago
7

A sales invoice included the following information: merchandise price, $4,000; transportation, $300; terms 1/10, n/eom, FOB ship

ping point. Assuming that a credit for merchandise returned of $600 is granted prior to payment, that the transportation is prepaid by the seller, and that the invoice is paid within the discount period, what is the amount of cash received by the seller?
1. $3,400
2. $3,666
3. $3,950
4. $3,366
Business
1 answer:
g100num [7]2 years ago
5 0

Answer:

2. $3,666

Explanation:

Calculation for the amount of cash received by the seller

Cash received by seller = ($4,000 - $600) * 99 % + $300

Cash received by seller=$3,400*99%+$300

Cash received by seller= $3,666

Therefore the Cash received by the seller will be $3,666

You might be interested in
Fabiola is an accountant with Rovers and Associates, a law firm in downtown Memphis. The firm maintains a checking account with
Lelu [443]

Answer:

C) Drawer

Explanation:

A drawer is an individual or institution that issues and signs a bill of exchange instructing a bank or drawee to pay the specified amount to the payee. The drawer is the person who writes and signs a cheque to a third party or payee. In a situation where the cheque is to pay oneself, the drawer is the same as the payee.

Rover and Associates is the drawer. The law firm issues the cheques instructing Portris Bank to pay the office manager the amount stated in the cheque.  The office manager is an employee of Rover and Associates. The cheque may be written to Rover and Associates. If that is the case, Rover and Associates is first the drawer and the then the payee. Portis bank is the drawee.

7 0
3 years ago
Phil, age 20, is single and can be claimed as a dependent on his parent's return. He had $150 in interest income and wages of $7
Korvikt [17]

Answer: B - $7,150

Explanation: Standard taxation is an option by IRS to reduce an inidvidual taxable income. this is subject to an individuals filling status.

Phil who is aged 20, single and who can claim a dependent on his parents tax filling return. As of 2019, his standard tax deduction is limited to his earned income plus $350.

According to the above question, Phil earns $7,000 as wages plus $150 in interest income.

From the above information, Phil has a standard tax of $7,150.

3 0
2 years ago
Indicate the effect of each transaction during the month of October 2016 and the balances for the accounting equation after all
Nikolay [14]

Answer:

Test answer

Explanation:

Please delete that answer

5 0
3 years ago
A client is admitted to the hospital with a diagnosis of lower extremity arterial disease (LEAD) A client with heart disease has
AlekseyPX

Answer:

Blood enters the right atrium via the superior and inferior vena cava, flows to the right ventricle and then into the lungs, returns from the lungs to the left atrium and left ventricle, and exits out the aorta

Explanation:

The blood stream will flow to the right artium through the vena cava and moves to the right ventricle as well as the lungs. The blood is then returned back to the left atrium and ventricle from the lungs. It later flows out through the aorta. That is the sequence of flow of the blood streams to and from the lungs.

6 0
3 years ago
The discount rate is the rate of interest at which: Question 12 options: 1) Federal Reserve Banks lend to commercial banks. 2) s
stepan [7]

Answer:

1) Federal Reserve Banks lend to commercial banks.

5 0
3 years ago
Read 2 more answers
Other questions:
  • Miller Mining acquired rights to a tract of land with the intent of extracting from the land a valuable mineral. The cost of the
    10·1 answer
  • You are working at a firm that specializes in fraud examinations on behalf of clients. think of a specific example when your fir
    9·2 answers
  • If a fixed asset, such as a computer, were purchased on January 1st for $3,750 with an estimated life of 3 years and a salvage o
    6·1 answer
  • You are the manager of the packaging department in a cookie factory. (Obviously, the packaging employees cannot eat the cookies
    11·1 answer
  • Robert has taken up cycling as a hobby and as a way to maintain his physical fitness. He wants to buy a hydration system since h
    6·1 answer
  • Write a short paragraph about how to prevent yourselves against different crimes....
    5·1 answer
  • The packaging and labeling of certain consumer goods are regulated by the
    5·1 answer
  • The LFH Corporation makes and sells a single product, Product T. Each unit of Product T requires 1.5 direct labor-hours at a rat
    10·1 answer
  • International businesses need to understand the nature of the globalization debate and observe how their own practices may act i
    10·2 answers
  • the manufacturing overhead account shows debits of $240,000, $192,000, and $224,000 and one credit for $688,000. based on this i
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!