Answer: not, I wouldn't reccomend to borrow from a bank at 18% annual
Explanation: You will pay more, as montlhy interest would be 1.5% and for the 60 days you will pay 3% interest for the loan (18/12*2).
Example:
Price $ 100
with 2% of discount by paying within 10 days would be $98
And if you ask for a loan of $98 (that is the amount you need to pay with the discount) in 60 days you must pay to the bank $100.94 (98*1.03)
DEBIT TO ALLOWANCE for Doubtful Accounts and a credit to Accounts Receivable.
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When a specific customer's account is identified as uncollectible, it is written off against the balance in the allowance for bad debts account.
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Answer:
Buy a store
Explanation:
If you buy a store, then you become a store owner.
You were probably looking for more detail, but this is the best I can do for now.
