Answer:
Net amount paid = 391050
Explanation:
Accounts payable
=395,000
Cash
=391,050
Inventory
=3,950
Accounts payable
=396,000
Cash
=396,000
Accounts payable
=395,000
Purchase discount =3,950
Cash
=398,950
Accounts payable
=400,000
Cash
=396,000
Purchase discount
=4,000
Accounts payable = 395,000
Cash = 391,050
Inventory = 3,950
Gross amount due = Amount of purchase - return = 400000-5000 = 395000 will be debited to Accounts payable
Discount will be allowed as payment made within 15 dyas
Disount will be = 1% of 395000 = 3950 which will be credited to inventory
Net amount paid will be credit to cash = 395000-3950 = 391050
A licensee has 2 closings but her broker kept part of the commission to pay for expenses the licensee charged to the company. if the licensee files a complaint with the board, then the TREC does not handle disputes over commissions.
An income commission is the amount of money paid to a worker upon the crowning glory of a venture, usually selling a positive amount of products or offerings. Employers sometimes use sales commissions as incentives to increase worker productivity. A commission may be paid similarly to an income or rather than earnings.
Employers offer a commission to encourage their employees and lead them to be extra effective and generate more income and appeal to clients. sales and advertising jobs in many industries, along with vehicles and actual property, typically offer fee-based repayment.
Learn more about the commission here: brainly.com/question/957886
#SPJ4
<span>Representative money is portable, durable, divisible, and acceptable.</span>
Answer:
When the new processes are developed for manufacturing it results in interest rate fluctuations. However, operational costs would become uncertain which would further affect the total production costs. Thus the value of an investment would be impacted. Automobile demand from the customers will also get affected. thus, fall in interest rate will have a significant and positive affect on the sale of automobiles as well as revenue.
Answer: Micheal will earn an interest of $600 in the first year based on nominal interest rates.
Since we need to compute the interest paid out at the end of year 1, we use the following formula in order to find the interest
where
SI = Simple interest
P = Principal or initial amount invested
N = Number of years
R = Nominal interest rate
Nominal interest rate refers to the rate quoted on the CD or the rate agreed upon. In this question, the nominal interest rate is 3%.
Substituting the values in the formula above we get,