Credit terms of 2/10,n/30 mean that:
A) a 2% discount is allowed if the bill is paid within between 10 and 30 days.
B) a 2% discount is allowed if the bill is paid within 30 days.
C) a 2% discount is allowed if the bill is paid after 10 days.
D) a 2% discount is allowed if the customer pays the bill within 10 days,or the entry amount is due within 30 days.
Correct Answer:
Verified
Q4: Gross sales equals:
A) net sales minus sales
Q10: Sales Tax Payable is a:
A) liability account
Q12: The liability account used to record sales
Q13: Reduction given to company customers for early
Q14: The time frame when customers are allowed
Q16: Net sales equal:
A) gross sales.
B) gross sales
Q19: Merchandise is:
A) the same as inventory.
B) an
Q21: The arrangements between buyer and seller as
Q22: Mike returned $200 of merchandise to Secret
Q69: A characteristic of Sales Returns and Allowances
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents