Author Question: If the terms specified on an invoice are 2/10, n/30, this means that a discount of 2 will be allowed ... (Read 307 times)

mcmcdaniel · **on:** Jul 5, 2018

If the terms specified on an invoice are 2/10, n/30, this means that a discount of 2 will be allowed if payment is made within 30 days from the date of the invoice.
a. True
b. False
Indicate whether the statement is true or false

Question 2

On NOVEMBER 30, 2011, Just in Thyme, Inc issued 10,000 of 20-year, 9 bonds at 100. The bonds pay interest SEMIANNUALLY on May 31 and November 30.

On its income statement for the year ended DECEMBER 31, 2011, the year the bonds were issued, Just in Thyme will show Interest expense of ________.
A) 0
B) 900
C) 450
D) 75