A roofing products supply company gives good customers a cash ...

[CharlieWard]

A roofing products supply company gives good customers a cash discount of 2 on any amount that they pay within 10 days of the invoice date. An invoice for 2,590 was written on February 12 . The customer paid 100 . on February 18 . Compute the amount that company 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 acid test ratio. (Round answer to two decimal places.)

[shoemake]

Answer to Question 1

100 . - 2 = 98
100 . 0.98 = 1020.41 credited

Answer to Question 2

0.9:1

[CharlieWard]

Excellent

[Joy Chen]

Thanks for the timely response, appreciate it