Credit terms of 5/10, net 30 means that a cash discount of 5% can be taken...
Credit terms of 5/10, net 30 means that a cash discount of 5% can be taken if payment is made by _________________ or the full invoice must be paid by __________________ .
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2 days, 30 days |
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2 days, 10 days |
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10 days, 30 days |
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30 days, 10 days |
Homework Answers
The answer is : 10 days, 30 days
Credit terms of 5/10, net 30 means that a cash discount of 5% can be taken if payment is made by 10 days or the full invoice must be paid by 30 days
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Credit terms of 5/10, net 30 means that a cash discount of 5%
can be taken...
Which statement is true of an invoice with terms of 2/10 net 30?
Which statement is true of an invoice with terms of 2/10 net 30? SELECT ONLY ONE A 2% discount is applied if paid within 30 days Within 10 days, 2% of the invoice must be paid The full amount must be paid within 30 days Payment is required within 10 days A 10% discount is applied if paid within 2 days
A business offers credit terms of 2/15, n/30. These terms indicate that: A. the total amount...
A business offers credit terms of 2/15, n/30. These terms indicate that: A. the total amount of the invoice must be paid within 15 days of the invoice date B. the buyer can take a 2% discount if the bill is paid within 30 days of the invoice date C. a discount of 2% can be taken if the invoice is paid within 15 days of the invoice date D. no discount is offered for early payment
Explain what the credit terms of 2/10,1/30 mean. (Check all that apply.) The full payment is...
Explain what the credit terms of 2/10,1/30 mean. (Check all that apply.) The full payment is due within 10 days. The buyer can deduct 2% of the invoice amount if payment is made within 10 days of the invoice date. The buyer can take a discount of 10% if the invoice is paid with 30 days of the invoice date. The full payment is due within a 30-day credit period. X-Mart purchased $300 of merchandise on account. Demonstrate the journal...
Cash Discount Go For Broke Mining was extended credit terms of 3/15 net 30 EOM. The...
Cash Discount Go For Broke Mining was extended credit terms of 3/15 net 30 EOM. The cost of giving up the cash discount, assuming payment would be made on the last day of the credit period, would be ________. If the firm were able to stretch its accounts payable to 60 days without damaging its credit rating, the cost of giving up the cash discount would only be ________.
What does "2/10" mean, with respect to "credit terms of 2/10, n/30"? A discount of 10...
What does "2/10" mean, with respect to "credit terms of 2/10, n/30"? A discount of 10 percent will be allowed if the invoice is paid within two days of the invoice date. Interest of 10 percent will be charged if invoice is paid after two days. B. A discount of 2 percent will be allowed if the invoice is paid within 10 days of the invoice date. Interest of 2 percent will be charged if the invoice is paid after...
What does "2/10" mean, with respect to "credit terms of 2/10, n/30"? A discount of 10...
What does "2/10" mean, with respect to "credit terms of 2/10, n/30"? A discount of 10 percent will be allowed if the invoice is paid within two days of the invoice date. Interest of 10 percent will be charged if invoice is paid after two days. B. A discount of 2 percent will be allowed if the invoice is paid within 10 days of the invoice date. Interest of 2 percent will be charged if the invoice is paid after...
If a company gives you discount terms of 2% in 5 days, Net 30, what is...
If a company gives you discount terms of 2% in 5 days, Net 30, what is the effective rate that you can earn if you take a discount on an invoice of $10,000? 2% in 5 days mean you can pay 98% of the invoice in 5 days, or 100% in 30 days.
Cash Discount Review, Tu 41400 Chapter 8 and Distribution Finance Handy Rule: "30 days hath September. April June...
Cash Discount Review, Tu 41400 Chapter 8 and Distribution Finance Handy Rule: "30 days hath September. April June and November all the others have 31 expect February which has 28 and sometimes 29" (author unknown) 1. Calculate the cash discount offered and the amount paid as stated in the problems below: Item Invoice Amount Invoice Date Discount terms Date Pald Amount Pald a $1,790 1/10, n/30 3/1 3/10 $1,772.10 b. $7,194 2/10, n/30 3/28 4/17 $7,050 2. A distributor is...
D Question 18 5 pts The credit terms 2/10,n/30 are interpreted as: O 2% discount if...
D Question 18 5 pts The credit terms 2/10,n/30 are interpreted as: O 2% discount if paid within 30 days. 10% cash discount If the amount is paid within 2 days, with balance due in 30 days. 30% discount if paid within 10 days. 2% cash discount If the amount is paid within 10 days, with the balance due in 30 days 30% discount if paid within 2 days. Question 19 5 pts Accounts unique to merchandising companies using Perpetual...
LG 3 P16-3, Credit terms Wendy Interior Design received four invoices with different credit terms. The...
LG 3 P16-3, Credit terms Wendy Interior Design received four invoices with different credit terms. The manager needs to determine when the invoices, all dated March 25, need to be paid to avoid late-payment charges. A summary of the invoice credit terms are presented in the table. (Note: Assume a 365-day year.) Cash discount 2.0% 1.5 3.0 Cash discount period Credit period 15 days 30 days 10 60 7 45 15 30 Beginning of credit period date of invoice end...
Explain what the credit terms of 2/10,1/30 mean. (Check all that apply.) The full payment is due within 10 days. The buyer can deduct 2% of the invoice amount if payment is made within 10 days of the invoice date. The buyer can take a discount of 10% if the invoice is paid with 30 days of the invoice date. The full payment is due within a 30-day credit period. X-Mart purchased $300 of merchandise on account. Demonstrate the journal...
What does "2/10" mean, with respect to "credit terms of 2/10, n/30"? A discount of 10 percent will be allowed if the invoice is paid within two days of the invoice date. Interest of 10 percent will be charged if invoice is paid after two days. B. A discount of 2 percent will be allowed if the invoice is paid within 10 days of the invoice date. Interest of 2 percent will be charged if the invoice is paid after...
What does "2/10" mean, with respect to "credit terms of 2/10, n/30"? A discount of 10 percent will be allowed if the invoice is paid within two days of the invoice date. Interest of 10 percent will be charged if invoice is paid after two days. B. A discount of 2 percent will be allowed if the invoice is paid within 10 days of the invoice date. Interest of 2 percent will be charged if the invoice is paid after...
Cash Discount Review, Tu 41400 Chapter 8 and Distribution Finance Handy Rule: "30 days hath September. April June and November all the others have 31 expect February which has 28 and sometimes 29" (author unknown) 1. Calculate the cash discount offered and the amount paid as stated in the problems below: Item Invoice Amount Invoice Date Discount terms Date Pald Amount Pald a $1,790 1/10, n/30 3/1 3/10 $1,772.10 b. $7,194 2/10, n/30 3/28 4/17 $7,050 2. A distributor is...
D Question 18 5 pts The credit terms 2/10,n/30 are interpreted as: O 2% discount if paid within 30 days. 10% cash discount If the amount is paid within 2 days, with balance due in 30 days. 30% discount if paid within 10 days. 2% cash discount If the amount is paid within 10 days, with the balance due in 30 days 30% discount if paid within 2 days. Question 19 5 pts Accounts unique to merchandising companies using Perpetual...
LG 3 P16-3, Credit terms Wendy Interior Design received four invoices with different credit terms. The manager needs to determine when the invoices, all dated March 25, need to be paid to avoid late-payment charges. A summary of the invoice credit terms are presented in the table. (Note: Assume a 365-day year.) Cash discount 2.0% 1.5 3.0 Cash discount period Credit period 15 days 30 days 10 60 7 45 15 30 Beginning of credit period date of invoice end...
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