An invoice for $400 dated December 7 has sales terms of 2/10 ROG. The merchandise arrived December 11. If the bill is paid on December 18, what is the amount that was paid?

Q: The cost that is incurred in the process of generating the income will be called as O a. Expense O…

A: Expense is the amount of cost incurred during the period. Revenue is the total amount of receipts.…

Q: Suppose the charge account of​ Strong's Mailing Service at the local supply store had a​ 1.8%…

A: The question is based on the concept of Financial Accounting.

Q: On May 11, you get a 9% $1,800 furniture loan with monthly payments of $80.  Your first payment is…

A: The mortgage is the commitment to repay the sum borrowed as a loan secured by collateral. The loan…

Q: Bhupat

A: The objective of this question is to calculate the total balance on the next billing date, which is…

Q: Nottingham Financial purchases computer parts from its suppliers 2/10, net 60.  However, Nottingham…

A: Effective Cost of not taking Trade Credit = (1 + Discount/(100 -discount)) ^(365/( days of credit…

Q: A man borrows $3 000 from a credit union. Each monthhe is to pay $100 on the principal. At the same…

A: Simple interest is a method of calculating interest on a loan or investment, where the interest is…

Q: Suppose the charge account of Strong's Mailing Service at the local supply store had a 1.8% interest…

A: Average daily balance: It is the credit card’s balance during a given billing cycle.

Q: Last month, Kaitlin's average daily balance on her credit card was $1,253.38. The annual interest…

A: Given: Average daily balance on credit card "B"= $1253.38 Annual interest rate "r"=15.27% Number of…

Q: The quoted annual rate on your credit card is 14 percent, and there is a $30 annual fee. If your…

A: A credit card is a financial tool that allows individuals to borrow funds from a financial…

Q: You have a credit card with an APR of 15%. You begin with a balance of $800. In the first month you…

A: Credit cards are used for getting timely credit and these payments are paid later on with amount of…

Q: Christine's bill of P5 000 was due on September 10. A purchase of P 3 000 was made on September 15…

A: Firstly, average daily balance is calculated as below: result:

Q: When goods are sold to a customer with credit terms of 2/15, n/30, customers will receive a 2%…

A: Meaning of Terms:   Note: 2/10, n/30: Here, 2 represent the discount rate if payment is made within…

Q: (a) Write an iterative equation for the monthly unpaid balance Un. (b) What level will the unpaid…

A: The "Unpaid Balance" on a credit card refers to the outstanding amount of money that you owe to the…

Q: Suppose the charge account of​ Strong's Mailing Service at the local supply store had a​ 1.8%…

A: Average Daily Balance (ADB) is the average of all daily balances in a billing cycle, used to…

Q: Every day in April the company purchases $750 of supplies on terms net/30 days. The Accounts…

A: Lets understand the basics. When any transaction of sales or purchases are happen then there is…

Q: Suppose the charge account of​ Strong's Mailing Service at the local supply store had a​ 1.8%…

A: The average daily balance represents an accounting method computing interest charges by taking into…

Q: A retailer buys merchandise from a supplier with an invoice amount of $12,400. The terms of the sale…

A: DISCOUNT TERMThe 5/20 net 30 calculation is a way of providing cash discounts on purchases. It means…

Q: Julie's Boutique has total receipts for the month of $30,660 including sales taxes. If the sales tax…

A: Given : Total receipts including Sales tax = $ 30,660 Sales tax = 5 % Sales would be = Total…

Q: If you’re average daily balance on your credit card in June is $1,200 and your APR is 18%, how much…

A: Here,AverageDaily Balance of Credit Card is $1,200APR is 18%Late Charges is $29

Q: A charge account had a balance of $979 on May 5. A purchase of $222 was made on May 17, and a…

A: From May 5 to May 17, the balance of account is $979 for 12 days.From May 17 to May 20 the balance…

Q: Find the​ Black's finance charge on April 1

A: Finance Charge is a charge on the amount lent. On lending an amount, an interest is charged on the…

Q: A charge account had a balance of $945 on May 5. A purchase of $233 was made on May 17, and a…

A: Finance charges : The finance charge on this account would be calculated on the basis of average…

Q: Cabrera Accounting pays Shanaya Kapoor $63,480 per year. (Round your answers to two decimal places…

A: Labor cost is a direct cost considered a part of prime cost. It is a variable cost and the cost of…

Q: You have a credit card that charges an interest rate of 20.55% compounded monthly. The table below…

A: The average daily balance method calculates interest charges for the period by multiplying the…

Q: The activity on Monique Ramirez’ Visa account for one billing period is shown below. Find the…

A: Finance charge is the charges charged by a credit card company which is calculated on the basis of…

Q: An investor takes a loan for $40,000 to purchase inventory to start a business. The terms of the…

A: We take loans to buy large ticket items like a car or a house which otherwise we cannot afford. The…

Q: Suppose the charge account of Strong's Mailing Service at the local supply store had a 1.8% interest…

A: The average daily balance is used in accounting to calculate the interest charges, Under this method…

Q: Suppose the charge account of Strong's Mailing Service at the local supply store had a 1.8% interest…

A: Working:

Q: H) A product is sold for RO 15,000 dated June 10, and terms of payment 4/10, n/30 has been received.…

A: Dear student, I am answering the first question (h) as per the company policies as I am allowed to…

Q: Mary Jo Prenaris is an office manager with gross earnings of $1,300 semimonthly. If her company…

A: Semimonthly salary means payment is processed twice in a month i.e after a duration of 15 days…

Q: Suppose the charge account of Black's Mailing Service at the local supply store had a 1.1% interest…

A: Credit refers to the amount that a person borrows which they repay along with interest at a future…

Q: f a customer owed your company $100 on the first day of the month, then purchased $200 of goods on…

A: The normal balance of customer's account is credit balance, And if the amount is paid by the…

Q: uppose the charge account of​ Black's Mailing Service at the local supply store had a 1.5​%…

A: The costs of borrowing the money, comprising interests as well as other fees, is referred to as a…

Q: Cabrera Accounting pays Shanaya Kapoor $62,050 per year. (Round your answers to two decimal places…

A: Employees are paid on the basis of hours worked. The hourly rate is determined. The employees are…

Q: 13) A customer with unpaid balance for merchandise of $210.00 from the previous month has been…

A: Finance charge as per unpaid balance method is computed by multiplying the unpaid balance with the…

Q: A company purchases supplies on account. Their supplier requires that 75% of purchases on account be…

A: Step 1: Calculation of supplier payment.June balance remaining = June purchase * (100-75)%= $300 *…

Q: In a certain department store, the monthly salary of a saleslady is partly constant and partly…

A: Salary includes the fixed Salary and Variable Salary in that case employee will received the fixed…

Q: Complete the following table. Note: Round your "gross pay" to the nearest cent. Employee Donna Swan…

A: Gross pay is the total amount earned by the employee for the time he worked. It also includes…

Q: ABC Industries has accounts receivable of $700, inventory of $1,200, sales of $4,200, and cost of…

A: Ratio is a tool which is used to measure the growth and performance of the firm by establishing the…

Q: On July 28, you get a 7.9% $2,700 furniture loan with monthly payments of $125. Your first payment…

A: Given: Loan amount = $2700Monthly payment = $125Interest rate = 7.9%

Q: Arnold Brown has a Visa Card with an annual percentage rate of 19.2%. The unpaid balance for his…

A: Unpaid balance method ascertains the finance charge on the previous balance outstanding i.e., the…

Q: Assume you have a balance of $1000 on a credit card with an APR of 24%, or 2% per month. You start…

A: Loan amortization table presents how the loan is repaid, the periodic payment can be made to repay…