Multiple Choice
Your company purchases $50,000 of inventory from a wholesaler who allows you 45 days to pay.In addition,the wholesaler offers a 3% discount if payment is made within 12 days.These payment terms would be expressed as:
A) 0.03/12, n/45.
B) n/45, 3/12.
C) n/45, 0.03/12.
D) 3/12, n/45.
Correct Answer:
Verified
Correct Answer:
Verified
Q7: In a perpetual system,when inventory is sold
Q53: If a company that uses a perpetual
Q83: When a periodic inventory system is in
Q85: Boron Company has sales of $60,000,beginning inventory
Q86: Sales revenue equals $367,810,sales returns & allowances
Q87: Central Company sold goods for $5,000 to
Q89: Ace Electronics,which uses a perpetual inventory system,recorded
Q91: The Ocho Co.had a beginning inventory of
Q92: Purple Corp.purchased $10,000 of merchandise on June
Q93: Gross profit equals:<br>A) Net sales minus cost