Financial Accounting: [6 points] Star Mobile Store-bought phones worth $40,000. Terms include 2/10, n/30. If they pay within the discount period, calculate the amount of payment after cash discount.
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![Financial Accounting: [6 points]
Star Mobile Store-bought phones worth $40,000.
Terms include 2/10, n/30. If they pay within the
discount period, calculate the amount of payment
after cash discount.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F65b25c43-d5dd-46c3-b600-e000654e0755%2Fd44a05b2-35a5-4572-9fae-8e47012c25f0%2Fvke02vr_processed.jpeg&w=3840&q=75)
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- F1 please healp......Hi! Please answer thank you! The second picture is the second part of the questionA. Cash Discount1. An invoice for Php 70 250 dated March 25, terms 5/10, 2/30, n/60, is paidin full on April 20. What is the total amount paid to settle the account?2. Ms. Garcia received an invoice dated April 18 amounting to Php 30 123for her orderedplants. The invoice comes with cash discount terms, 5/5, 2/15, n/30, R.O.G.The plants were received on April 25. If she paid on May 12, how much did she pay?
- Logan Sales provides the following information: Net credit sales: $770,000 Beginning net accounts receivable: $45,000.00 Ending net accounts receivable: $22,000 Calculate the accounts receivable turnover ratio. (Round your answer to the nearest whole number.) A. 23 times B. 35 times C. 33 times D. 17 times6. A business allows customers to pay with a credit card or with cash. If paid with cash, the customer receives a discount of 100r%, where 0Po.33.10. A bank note is discounted at 6% in order to take advantage of the cash discount On an invoice for $8,080.00 plus shipping charge of $42.00. The credit terms Are 2/15, n/45. a. What is the cash discount? $ _ Calculate the proceeds needed to pay the invoice in full taking advantage Of the cash discount: b.Calculate the average daily balance and finance charge on the statement below. Assume 2% finance charge on average daily balance. Note: Round your "Finance charge" to the nearest cent. 7/3 7/18 7/27 30-day billing cycle Balance Payment Charge Walmart Average daily balance Finance charge $ 400 100 250 CreditSolve $140.10 per month; cash price $5,600; down payment $0 Cash or trade months with bank-approved credit; amount financed $5,600 Finance Charge $2,806 Total payments $8,406 (Use Tables in the handbook). The APR by Table lookup is:You have a credit card with an APR of 16%. You begin with a balance of $750. In the first month you make a payment of $550 and you make charges amounting to $400. In the second month you make a payment of $300 and you make new charges of $600. Complete the following table. (Round your answers to the nearest cent.) Previous balance Payments Finance charge New balance Purchases Month 1 $750 Month 2 %24 24 eBookCalculate the average daily balance and finance charge on the statement below. Note: Round your answers to the nearest cent. 9/16 9/19 9/30 10/3 Billing date Payment Charge: Home Depot Payment 30-day billing cycle Previous balance 10/7 Cash advance Finance charge is 1.5% on average daily balance. Average daily balance Finance charge $ 66 Credit 1,800 66 Credit 76 $ 2,600Hh2. Net credit sales for Turner Company are $200,000 for the year and the average accounts receivable balance is $20,000. What is the company's average collection period? (Use 365 days in a year.) Multiple Choice 5 days 548 days 54.8 days 36.5 daysSEE MORE QUESTIONS