Assume that Tariq Electronics LLC sold 50 Laptops @ OMR 250 each to a reseller on credit . To encourage the faster payment , the company offered the sales discount to the customer . The credit terms of the company says 2.5 / 10 , 1/30 . The reseller paid OMR 8000 to the company on 9th day and remaining amount on 29th day from the date of purchase. As per the policy of the company the sales discount available to the credit customer for the faster payment will be deducted from the final payment made by the customer. How much the company receives from the reseller ( Credit customer ) in final payment ? a . OMR 12500 b . None of the given options c . OMR 4300 d . OMR 4500
Assume that Tariq Electronics LLC sold 50 Laptops @ OMR 250 each to a reseller on credit . To encourage the faster payment , the company offered the sales discount to the customer . The credit terms of the company says 2.5 / 10 , 1/30 . The reseller paid OMR 8000 to the company on 9th day and remaining amount on 29th day from the date of purchase. As per the policy of the company the sales discount available to the credit customer for the faster payment will be deducted from the final payment made by the customer. How much the company receives from the reseller ( Credit customer ) in final payment ? a . OMR 12500 b . None of the given options c . OMR 4300 d . OMR 4500
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter17: Advanced Issues In Revenue Recognition
Section: Chapter Questions
Problem 11RE
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Assume that Tariq Electronics LLC sold 50 Laptops @ OMR 250 each to a reseller on credit . To encourage the faster payment , the company offered the sales discount to the customer . The credit terms of the company says 2.5 / 10 , 1/30 . The reseller paid OMR 8000 to the company on 9th day and remaining amount on 29th day from the date of purchase. As per the policy of the company the sales discount available to the credit customer for the faster payment will be deducted from the final payment made by the customer. How much the company receives from the reseller ( Credit customer ) in final payment ?
a . OMR 12500
b . None of the given options
c . OMR 4300
d . OMR 4500
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