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An invoice for product X totals $1,200 and is dated July 6, 2000 with terms 2/10-60X. If the invoice is paid on September 3, 2000, what is the net amount of payment? A. $912 B. $1,152 C. $1,176 D. $1,200
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
a simple discount note for $6,600 at a ordinary bank discount rate of 8.61% for 60 days. What is the effective interest rate? Round to the nearest tenth of a percent
Q. What are Bad debts? Bad debts -- amounts owed to a company which aren't going to be paid. An accountreceivable becomes a bad debt when it's recognized that it won't be paid.
Q. Explain about statement of cash flows? Retained earnings usually consist of the accumulated net income of the corporation minus dividends distributed to stockholders. We exa
Accounting supposes that the business as an accounting entity will continue to operate for a long time in the future, unless there is superior evidence to the contrary. The enterpr
Q. What is Managerial accounting information? A Managerial accounting information is for internal use and provides special information for the managers of a company. The inform
Q. Qualitative characteristics of financial reporting? Accounting information must possess qualitative characteristics to be useful in decision making. This criterion is hard t
Q. Example of Unearned service fees? Unearned service fees On December 7 Micro Train Company received USD 4500 from a customer in payment for future training services. The firm
As discussing the scope of accounting you should have observed here the accounting involves a sequence of activities connected with each other, starting along with the collecting,
THE BALANCE SHEET CONCEPTS According to Howard, a Balance Sheet might be definite as - 'a statement which reports the principles owned by the enterprise and the assert of the c
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