Charlet Company sells office chairs to its customers. On June 10, Charlet purchased 40 office chairs...

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Charlet Company sells office chairs to its customers. On June 10, Charlet purchased 40 office chairs from one of its supplier

business accounting

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Answer 1

Answer #1

Credit Terms = 5/15

If customer makes payment with in 15 days, discount allowed = 5%

If customer makes payment after 15 days, No discount allowed

Discount = (15 chairs x $200) x .05 = $150

Cash paid by Rutherford Corporation = (15 chairs x $200) - 150 = $2850

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Answer 2

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Charlet Company sells office chairs to its customers. On June 10, Charlet purchased 40 office chairs...