Enumerate the term- cash discounts, Accounting Basics

Assignment Help:

Enumerate the term- Cash discounts

Offered to encourage prompt and early payment by buyer. Cash discounts are recorded in accounting records of both the buyer and the seller. Sales or purchases discounts.  A common discount is 2/10, n/30. (2 percent discount if paid in 10 days; total due in 30 days)

 

 


Related Discussions:- Enumerate the term- cash discounts

Creditors, Creditors: this may be short or long-term lenders. Short-term c...

Creditors: this may be short or long-term lenders. Short-term creditors comprise suppliers of materials, services or goods. They are generally termed as trade creditors. Long-term

Explain the term- cash short and over, Explain the term- CASH SHORT AND OVE...

Explain the term- CASH SHORT AND OVER This account is used to record both a shortage and overage of cash in cash drawer. When change is made during a business day, mistakes can

Principles of consolidation, Q. Principles of consolidation? The consol...

Q. Principles of consolidation? The consolidated financial statements of the Company comprise the accounts of The Walt Disney Company and its subsidiaries after elimination of

2 questions, WHERE DO I START? I have two questions QUESTION1 On March 31,...

WHERE DO I START? I have two questions QUESTION1 On March 31, 2010, our company, Harry Yolo, purchased a 100,000. 8% 10-year bond for 102 from Fish Gimp, due in 6 years & 8 months

What is the end-of-period worksheet, What is the end-of-period worksheet ...

What is the end-of-period worksheet Show Trial Balance-debits MUST EQUAL credits Show Adjustments-debits MUST EQUAL credits Carry adjustments forward to Adjusted Trial Ba

Ledger, Need to get my Balance Sheet solved

Need to get my Balance Sheet solved

Show the company''s balance sheet, Q. Show the company's Balance sheet? ...

Q. Show the company's Balance sheet? Balance sheet the balance sheet Exhibit contains the liabilities, assets and stockholders' equity items taken from the work sheet. Note tha

Taxes, ACCT225-1204A-01 Introduction to Tax Task Name: Phase 5 Individual ...

ACCT225-1204A-01 Introduction to Tax Task Name: Phase 5 Individual Project Deliverable Length: All applicable tax forms and a Word document of 1–2 pages Details: Weekly tasks or

Income statement, Hermann Industries is forecasting the following income st...

Hermann Industries is forecasting the following income statement: Sales $10,000,000 Operating costs (excluding depreciation and amortization) 5,500,000 EBITDA $4,500,000 Depreciati

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd