Author Question: Tony Chang gives good customers a cash discount of 1.5 on any amount that they pay within 5 days of ... (Read 237 times)

lunatika

  • Hero Member
  • *****
  • Posts: 548
Tony Chang gives good customers a cash discount of 1.5 on any amount that they pay within 5 days of the invoice date. An invoice for 1,890 was written on February 2 . The customer paid 900 on February 6 . Compute the amount that Tony must credit to his customer's account. (This problem involves the partial payment of an invoice within the discount period.)

Question 2

Warm Winters Linen, Inc had current liabilities of 500,000 . cash of 300,000 . accounts receivable of 150,000 . and ending inventory of 250,000 . Compute the working capital ratio. (Round answer to two decimal places.)



k.lashomb

  • Sr. Member
  • ****
  • Posts: 346
Answer to Question 1

100 . - 1.5 = 98.5
900 0.985 = 913.71 credited

Answer to Question 2

1.4:1



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

For a complete list of videos, visit our video library