Answer and Explanation:
The company handles the credit accounts including methods of invoicing and collecting past-due accounts, is indicated by the collection policy as it includes the net days given to the customers
Now if the customer pays the cash within eight days after the sale, the amount of cash paid is
= $100,000 × 0.99
= $99,000
And, if payment is made after 15 days so no discount would be given as it is exceeded the prescribed time limit i.e 10 days. So in this case the $100,000 cash is paid
Now the days sales outstanding is
= 0.30 × 10 + 0.70 × 35
= 3 +24.5
= 27.50 days
Answer:
A) inelastic demand
Explanation:
Demand is inelastic if a change in price has no effect on quantity demanded.
Changes in price has no effect on quantity of leather demanded. Therefore, the demand for leather is inelastic.
Direct purchasing is buying raw materials used in the production process.
Straight rebuy is purchasing similar goods from the same supplier under similar conditions.
Modified rebuy is purchasing similar goods either from a different supplier or in a different condition.
The Quick Book Online ecosystem gives you and your client access to a wide range of apps to help increase productivity in a business.
Explanation:
- The Quick Book Ecosystem helps small firms in their growth and productivity. It keeps all the accounts properly,does all the legal work. It is an easy going app and is very useful for the businessman.
- There is no need to keep any backup still the important data are kept secured. Online chats can also be easily performed.
- There is not requirement of software to manage it as well as this app don't require any upgrades. Hence we can say that this app is very useful because through this app we can avail other apps too.
Answer:
Nexium & Associates Journal entries
March 1
Dr Accounts Receivable800
Cr Service Revenue 800
March 9
Dr Office Furniture1,060
Cr Office Supplies 160
Cr Accounts Payable1,220
March 15
Dr Accounts Payable1,220
Cr Cash1,220
March 23
Dr Electricity Expense430
Cr Accounts Payable430
March 31
Dr Salaries Expense850
Cr Cash850
Explanation:
The details given about Nexium & Associates are straight forward and required no further
adjustment.
