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Author Question: If merchandise bought on account has a list price of 5,000, with a trade discount of 25 and credit ... (Read 127 times)

vicotolentino

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on: Jul 6, 2018
If merchandise bought on account has a list price of 5,000, with a trade discount of 25 and credit terms of 1/10, n/30, what is the amount to be credited to Accounts Payable?
 a. 5,000
   b. 3,750
   c. 3,712.50
   d. 3,787.50

Question 2

The city of Brittainville's Special Revenue Fund levied 350,000 in taxes, of which 1 was expected to be uncollectible during the current year.
 
  Also during the year, the fund collected 7,500 of interest revenue and 50,000 was transferred from the General Fund. As a result of these transactions fund balance will increase by
  A. 407,500.
  B. 404,000.
  C. 357,500.
  D. 354,000.


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dawsa925

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Reply #1 on: Jul 6, 2018
Answer to Question 1

b

Answer to Question 2

B


vicotolentino

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Reply 2 on: Jul 6, 2018
Excellent

carojassy25

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Reply 3 on: Yesterday
:D TYSM

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