College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN: 9781337280570
Author: Scott, Cathy J.
Publisher: South-Western College Pub
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Chapter 10, Problem 2A

You are the manager of the Accounts Receivable Department for a merchandising business. Your billing clerk sent a bill for $2 to a customer who had charged $100 in goods (including sales tax) with terms 2/10, n/30. The customer called and indicated his displeasure. He can’t understand an error like this because he paid on time. Explain to your billing clerk why Accounts Receivable is credited for $100 and not $98. How was permission given to send less than the full amount?

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You manage the Accounts Receivable Department of a merchandising business. Your billing clerk sent a bill for $2 to a customer who had charged $100 in goods (including sales tax) with terms of 2/10, n/20. The customer called and indicated his displeasure; he can’t understand an error like this since he paid on time. Explain to your billing clerk why Accounts Receivable is credited for $100 and not $98. How was permission given to the customer to send less than the full amount?
You are the manager of the Accounts Receivable Department for a merchandising business. Your billing clerk sent a bill for $2 to a customer who had charged $100 in goods (including sales tax) with terms 2/10, n/30. The customer has called and indicated his displeasure; he can't understand an error like this since he paid on time. For your initial post, explain to your billing clerk why Accounts Receivable is credited for $100 and not $98. Include an explanation as to how permission was given to send less than the full amount?
You are working as a summer intern at a rapidly growing orgainc food distribution. Part of your responsibility is to assist in the accounts payable department. You notice that most of the bills are not paid with in discount period. The manager of the accounts payable sees the bills are organized by vendor, like the accounts payable ledger, and she is too busy to keep track of the discounts period. Besides, the owner has told her that The 1% and 2% discount available or not worth worrying about. 1. Explain to the owner why it is expensive not to take it advantage to cash discounts on credit purchases. suggest a way to file (organize) suppliers invoices so that they are paid with in the discount period.

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