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Author Question: A roofing products supply company gives good customers a cash discount of 2 on any amount that they ... (Read 180 times)

CharlieWard

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on: Jun 24, 2018
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.)


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shoemake

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Reply #1 on: Jun 24, 2018
Answer to Question 1

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

Answer to Question 2

0.9:1


CharlieWard

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Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

adf223

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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