Question 33 A company sells goods and offers credit terms of "net 30 days." What does this reveal to the company that sold the goods? It cannot recognize the sales credit for 30 days. It does not have to ship the goods for 30 days. The customer has up to 30 days to pay back the seller for the goods purchas without penalty. It offers a 30% discount for customers that use credit cards.

Question 33 A company sells goods and offers credit terms of "net 30 days." What does this reveal to the company that sold the goods? It cannot recognize the sales credit for 30 days. It does not have to ship the goods for 30 days. The customer has up to 30 days to pay back the seller for the goods purchas without penalty. It offers a 30% discount for customers that use credit cards.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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