In the credit terms of 3/15, n/45, the "3" represents the a. Number of days when the entire amount is due b. Full amount of the invoice c. Percent of the cash discount d.  Number of days in the discount period

Q: You are given the following information: Receivables at 1 January 20X3 $10,000 Receivables at 31…

A: We have the following information: Receivables at 1 January 20X3: $10,000 Receivables at 31…

Q: The collection of a $900 account after the 2 percent discount period will result in a a. debit to…

A: The cash has been received after the discount period that shows that the discount would not be…

Q: Which report identifies the percentage of accounts receivable that are delinquent by 90 days or…

A: The lawfully enforceable claims for payments that are made by the companies for the services and…

Q: The credit card with the transactions described in the popup below uses the average daily balance…

A: Credit CardIt is a card issued to customers for making payment towards goods and services. These…

Q: From the following particulars, determine Trade Receivables at the end of the year Credit Revenue…

A: We are required to determine Trade Receivable at the end of the year. Which is given in following…

Q: An invoice is dated may 22 with terms 4/18 EOM, Assuming the net date is 20 days after discount…

A: EOM meand end of the month.

Q: A credit sale of $2800 is made on July 15, terms 4/10, net/30, on which a return of $200 is granted…

A: Net Receivables = Credit sales made - Sales return = $2800 - $200 = $2600

Q: You are given the following account summary: Time Balance Deposit Withdrawal 1,000 1,020 1.110…

A: Following is the answer to the given question

Q: iodic Rate (as a %) Finance Charge (in $) Purchases and Cash Advances Payments and

A: Calculate APR as follows: APR = Monthly rate ×12 =114%×12=1.25%×12=15% Thus , APR id 15%

Q: What is Emersyn's expected accounts receivable balance on the June 30th balance sheet? a. $20,400 b.…

A:

Q: An invoice is dated June 17 with terms 3/10-50 ex. Find the final discount date and the net payment…

A: The final date would be the date on which the amount is paid.

Q: Analyze the following: A $10,000 60 day interest bearing note was issued for cash on June 30 at a…

A:

Q: On March 29, Jangles Corporation received a $21,800 invoice dated March 26. Cash discount terms were…

A: 4/10 Term says that if the due amount is paid within 10 days then. they can avail 4 % discount.

Q: Calculate the missing information on the revolving credit account. Interest is calculated on the…

A: Formula: Annual percentage rate = Monthly periodic rate x 12 months Multiplying monthly periodic…

Q: The maturity date of a note receivable: Multiple Choice O Is the day of the credit sale.

A: Notes receivable represents promise to receive certain amount promised by issuer on a specific date.…

Q: Calculate the missing information on the revolving credit account. Interest is calculated on the…

A: Formula: Annual percentage rate = Monthly rate x 12 Months

Q: What is the APR if the monthly rate of interest a credit card company charges on outstanding…

A: Given: Monthly rate = 1.62%

Q: a. From the following list of balances, prepare the Accounts Receivable Control Account for the…

A: Accounts Receivable: Accounts receivable indicates the amounts which company has not received from…

Q: In credit terms of 3/15, n/45, the "3" represents a. Full amount of the invoice b. Percent of the…

A: The terms of 3/15, n/45 means a discount of 3% if payment is made within 15 days whereas payment…

Q: I am struggling with these calculations: I uploaded both data need to answer question and answer…

A: The interest on notes receivable is computed on the number of days mentioned on the notes as per the…

Q: A. Suzie estimates uncollectible accounts to be 10% of accounts receivable (which does not include…

A: Accounts Receivables - Accounts Receivables are the amount unpaid by the customer for the service…

Q: 1. What is the original average accounts receivable balance based on the given? 2. What is the…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: If the Net Realisable Value of Accounts Receivable = $35,000 and the balance of Accounts Receivable…

A: Net realisable value of Accounts receivable = Accounts receivable - Allowance for Doubtful debts…

Q: Calculate the missing information on the revolving credit account. Interest is calculated on the…

A: The periodic rate is set by credit card and other fiance companies by dividing the APR by period of…

Q: Washington Products offers credit terms of 3/10, n/45. Which of the following statementsis…

A: Given statement is: Washington Products offers credit terms of 3/10, n/45.

Q: The journal entry to record payment of monthly bill will include:(a) Debit monthly bill and Credit…

A: Journal entry: Journal entry is a set of economic events that can be measured in monetary terms.…

Q: Consider the above balance sheet and income statement. The account payable deferral period is equal…

A: The account payable deferral period is the period of time taken by the company to pay off its…

Q: Prepare a balance sheet, assuming that the current portion of the note payable is $14,700. Kanpur…

A: Particulars Amount Amount Current Assets:     Cash $114,800    Accounts Receivable $299,600…

Q: Record write-off of accounts receivable as uncollectible, $5,300. Note: Enter debits before credits.…

A: Accounts receivable (asset) are decreasing, so credited and accounts are written off from the…

Q: Accounts Receivable has a debit balance of $2,500, and the Allowance for UncollectibleAccounts has a…

A: Net realizable value = Accounts Receivable - Allowance for Uncollectible Accounts

Q: The type of cash discount where the disc period is counted from the date of invoie a. End of the…

A: Ans. Credit period is the number of days a customer is allowed to wait before paying an invoice. It…

Q: The journal entry on December 31 would consist of a debit to Notes Payable for $10,000, debit to…

A: Notes payable: Notes payable can be defined as the promissory note in which one party promises other…

Q: What will be the journal entry to record the issue of note of $30,000 to a creditor who has agreed…

A: Journal entry: It can be defined as the recording of financial events and transactions that have…

Q: Calculate the missing information on the revolving credit account. Interest is calculated on the…

A: APR = 12 * Monthly periodic rate

Q: The balance in an account on January 1st is $50,000. On April 1st, the balance is $51,000 and a…

A: TWR=[(1+HP1)×(1+HP2)×⋯×(1+HPn )] −1 where: TWR= Time-weighted return n= Number of sub-periodsHP=…

Q: The credit card with the transactions described in the popup below uses the average daily balance…

A: Credit CardIt is a card issued to customers for making payment towards goods and services. These…

Q: Calculate the missing information on the revolving credit account. Interest is calculated on the…

A:

Q: Find the cash discount and the net price on an invoice for RM580 dated April 17 with terms of 3/10,…

A: Invoice was drawn on April 17 for RM 580 Cash discount = 3% for payment within 10 days Net Price…

Q: In credit terms of 3/15, n/45, the "3" represents the Oa. full amount of the invoice Ob. number of…

A: 3/15 n/45 3: discount if paid within 15 days 15: period of discount validity n: no discount if paid…

Q: Merchandise costing $539 is sold for 1848 on terms 2/10, n/30. If the buyer pays within the discount…

A: Accounts receivables:  It implies to the amount that has been owed by the customers from the…

Q: A credit sale of $3,600 is made on July 15, terms 2/10, n/30, on which a return of $200 is granted…

A: 2/10 net 30 means 2% discount will be there if payment is made with in 10 days and no discount after…

Q: In credit terms of 3/15, n/45, the "3" represents the Oa. number of days in the discount period Ob.…

A: Credit terms: Credit terms are terms between a seller and buyer. These terms state the time and…

Q: llectible. Using the percentage of sales method: Determine the amount to be charged to the…

A: BS stands for Balance Sheet which is among the three other financial statement named CFS (Cash flow…

Q: On December 31, it is estimated that 8% of the outstanding accounts receivable may prove…

A: "Since you have asked multiple question we will solve the first three sub part question for you.  If…

Q: Presented below are three receivables transactions.Indicate whether these receivables are reported…

A: Accounts receivable:Accounts receivable refers to the amounts to be received within a short period…

Q: QUESTIONI Following are transactions related to the accounts receivable of Jelutong Idaman Bhd (JIB)…

A: Gross method: Invoice at full price are recorded under  Gross method . It is  assumed that  customer…

Q: Aug. 1: Received amount owed on June note plus interest at the maturity date. Description Debit…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: A business issued a 45-day note for $80,000 to a creditor on account. The note was discounted at 5%.…

A: