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Problem 1: If a company is given credit terms of 2/10, n/30, it should
A) recognize that the supplier is desperate for cash and withhold payment until the end of the credit period while negotiating a lower sales price. B) pay within the credit period but don't take the trouble to invest the cash while waiting to pay the bill. C) hold off paying the bill until the end of the credit period, while investing the money at 10% annual interest during this time. D) pay within the discount period and recognize a savings.
Problem 2: The entry to record the receipt of payment within the discount period on a sale of P750 with terms of 2/10, n/30 will include a credit to
A) Cash for P735. B) Accounts Receivable for P750. C) Sales Discounts for P15. D) Sales for P750.
Financial Statement Analysis and Preparation
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T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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