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Question 6 (1 point) Credit terms of 2/10, n/30 are interpreted as A) 10% discount if...
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...
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...
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
July 1 Purchased merchandise from Boden Company for $6,500 under credit terms of 2/15, n/30, FOB...
July 1 Purchased merchandise from Boden Company for $6,500 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $900 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $542. 3 Paid $110 cash for freight charges on the purchase of July 1. 8 Sold merchandise that had cost $1,800 for $2,200 cash. 9 Purchased merchandise from Leight Co. for $3,000 under...
Goods costing $1,900 are purchased on account on July 15 with credit terms of 2/10, n/30....
Goods costing $1,900 are purchased on account on July
15 with credit terms of 2/10, n/30. On July 18, the purchaser
receives a $300 credit from the supplier for damaged goods. Give
the journal entry on July 24 to record payment of the balance due
within the discount
period.
Question 11 Goods costing $1,900 are purchased on account on July 15 with credit terms of 2/10, n/30. On July 18, the purchaser receives a $300 credit from the supplier for...
July 1 Purchased merchandise from Boden Company for $6,000 under credit terms of 1/15, n/30, FOB...
July 1 Purchased merchandise from Boden Company for $6,000 under credit terms of 1/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $900 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $500. 3 Paid $125 cash for freight charges on the purchase of July 1. 8 Sold merchandise that had cost $1,300 for $1,700 cash. 9 Purchased merchandise from Leight Co. for $2,200 under...
July 1 Purchased merchandise from Boden Company for $6,600 under credit terms of 2/15, n/30, yon...
July 1 Purchased merchandise from Boden Company for $6,600 under credit terms of 2/15, n/30, yon shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $950 under credit terms of 2/10, 1/60, POB shipping point, invoice dated July 2. The merchandise had cost $550. 3 Paid $135 cash for freight charges on the purchase of July 1. @ Bold merchandise that had coat $1,900 for $2,300 cash. Purchased merchandise from Light Co. for $2,900 under credit...
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 __________________ . 2 days, 30 days 2 days, 10 days 10 days, 30 days 30 days, 10 days
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...
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...
July 1 Purchased merchandise from Boden Company for $6,500 under credit terms of 2/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $900 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $542. 3 Paid $110 cash for freight charges on the purchase of July 1. 8 Sold merchandise that had cost $1,800 for $2,200 cash. 9 Purchased merchandise from Leight Co. for $3,000 under...
Goods costing $1,900 are purchased on account on July
15 with credit terms of 2/10, n/30. On July 18, the purchaser
receives a $300 credit from the supplier for damaged goods. Give
the journal entry on July 24 to record payment of the balance due
within the discount
period.
Question 11 Goods costing $1,900 are purchased on account on July 15 with credit terms of 2/10, n/30. On July 18, the purchaser receives a $300 credit from the supplier for...
July 1 Purchased merchandise from Boden Company for $6,000 under credit terms of 1/15, n/30, FOB shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $900 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $500. 3 Paid $125 cash for freight charges on the purchase of July 1. 8 Sold merchandise that had cost $1,300 for $1,700 cash. 9 Purchased merchandise from Leight Co. for $2,200 under...
July 1 Purchased merchandise from Boden Company for $6,600 under credit terms of 2/15, n/30, yon shipping point, invoice dated July 1. 2 Sold merchandise to Creek Co. for $950 under credit terms of 2/10, 1/60, POB shipping point, invoice dated July 2. The merchandise had cost $550. 3 Paid $135 cash for freight charges on the purchase of July 1. @ Bold merchandise that had coat $1,900 for $2,300 cash. Purchased merchandise from Light Co. for $2,900 under credit...
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