When offered with single trade discounts, discount series, and cash discount, would you avail of them right away?  Why and why not

Q: When offered with single trade discounts or discounts series, would you avail of them right away?

A: Single trade discounts- are discounts that a supplier offers to customers when a specific condition…

Q: Is it true that, when one firm sells to another on credit, the seller recordsthe transaction as an…

A: When a person sells to another person on credit, it is recorded as accounts receivable in his books.…

Q: Explain how does the trade credit is offered on open account.

A: Trade credit is the easiest and most important source of short-term finance available to businesses.…

Q: types of discounts is given to the buyer if the buyer makes a bulk purchase ?

A: The amount that is a fixed rate and deductable from the invoice price is known to be discount. This…

Q: Explain the argument for and against the use of net price method with respect to purchase discounts?

A: The Net Price Method (NPM) provides information about the purchase discounts lost by the company and…

Q: Sales Returns and Sales Allowances. What are Sales Discounts? What are their respective normal…

A:

Q: Distinguish trade discounts and cash discounts.

A: Introduction: Discount: Discount is an expense to be shown in income statement. All expenses to be…

Q: Distinguish between cash discounts and trade discounts for purchases. Is the amount of a trade…

A: Discounts are given to attract customers and increase sales revenue. Discounts can be given as cash…

Q: Which one of the following statements about trade discount is true? It is recorded in books of…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: How to calculate the list price? O a. List price = Amount of Discount/Rate of Discount O b. List…

A: Discount means the amount which is not required to be paid or received. Discount is deducted to find…

Q: Quantity discount grand to customers to encourage them to paid early O True O False

A: (1) The given statement is False.    Quantity discount : Quantity discount is also known as Trade…

Q: Which of the following is an advantage of using the net price method for recording cash discounts on…

A: At the time of recording credit sales, there can be some provision for discount to be given. So,…

Q: Down payment refers to a. A trade discount b. An installment payment C. A partial payment d. A cash…

A: The question is multiple choice question. Required  Down Payment refers to ?

Q: Explain the difference between a trade discount and a cash discount.

A: Discount is the deduction from the cost of product or service that a seller offers to the buyer…

Q: Trade discounts sometimes are taken on freight. Group of answer choices True False

A:

Q: Define Trade discounts.

A: Business:   It refers to a commercial activity involving buying and selling of a product or a…

Q: What are the reasons that a company gives trade discounts?Why are trade discounts not recorded in…

A: A reduction in list or catalog price which is granted by the supplier of goods/services can be…

Q: al credit sales ts purchasing ivable has shi agement a ye

A: Receivables outstanding = 1710000×23/365= $107,753 Payables outstanding = 1710000×49.56%…

Q: Hi so is the sales discount forfeited not used?

A: Business organizations generate income statements so that they may determine how much gross profit…

Q: what is the average amount of receivables؟ 2-what is the percentage cost of trade credit to…

A: 1) Hence, the average amount of receivables is $70,000.

Q: When offered with single trade discounts or discounts series, would you avail of them right away?…

A: Single trade discounts- are discounts that a supplier offers  to customers when  specific condition…

Q: If any discount is offered for early payment of invoice will be called as a. Cash discount b. Trade…

A: An early payment discount – also known as a prompt payment discount or early settlement discount /…

Q: When should a seller view a payment to its customer as a refund of part of the price paid by the…

A: Revenue recognition principle:   The revenue recognition principle refers to the revenue that…

Q: calculate the discount date and the net date for the transaction.

A: Given that the invoice terms are 2/10 , n/45 That is if the invoice is paid in 10 days we get a…

Q: Cash Discounts. ISCoun

A: It is pertinent to note that cash discounts are given by debts for prompt payment of invoices .…

Q: The cash discount (also known as purchase discount) is given to customers for a. Frequent purchases…

A: Discount is known as allowance or reduction benefit is given to customers for their payment for…

Q: The transaction price: A) Is always the price that competitors see. B) May include a trade…

A: Price: It implies to an estimated amount of money that acts as consideration in sale or purchase of…

Q: Use the ordinary dating method, calculate the discount and the net date for the transaction. date…

A: Facts: date of invoice - october 11 terms of sale  - 3/20,n/45

Q: Please tell us about Sales Discounts.  Why are they necessary?  Does this account appear on the…

A: Discount is the amount of reduction in the value of sale or purchase. In other words, discount in…

Q: Enter the letter for each term in the blank space beside the definition that it most closely…

A: Sales discount : The discount given by the seller of goods and services to the buyer for promoting…

Q: Let's assume the merchandiser (buyer) pays after the discount period expires, how will the vendor…

A: The payment terms of Sports Emporium Sales is 2/10, n/30. It means if payment is done within 10 days…

Q: What do you understand from trade and cash discount? How to calculate trade discount, cash discount…

A: A trade discount is provided by the supplier in the form of quantity discount to the customer. It is…

Q: The buyer calls cash discount as a. Managing discount b. Purchase discount O c. Sales discount d.…

A: The buyer receives the discount on purchases.

Q: What is the difference between a sales discount, a sales return and a sales allowance?

A: A contra account is an account whose balance is opposite of the general or usual balance of that…

Q: A deduction allowed to wholesalers and retailers from the price of merchandise listed in catalogs is…

A: A deduction allowed to wholesalers and retailers from the price of merchandise listed in catalogs is…

Q: or Discount and Direct Discount pricing, apart from who pays for the subscription?

A: You pay for the membership directly with the ProAdvisor discount and enjoy an ongoing discount. With…

Q: Which of the following is indicative of discounts received from a supplier on account of early…

A: solution concept Quantity discount : discount given when large quantity is purchased Value discount…

Q: When a seller receives payment from a customer who takes the discount for paying early, the journal…

A: When a  seller receives payment within discount period, cash account will be debited with accounts…

Q: The "Allowance for sales discounts" account may be used under Select the correct response: O Net…

A: Solution: Allowance for sales discount is used when sales discount is accounted for using estimates…

Q: If NetSolutions sells a customer some products on account (accounts receivable) and offers a…

A: A discount refers to amount deducted from the normal selling price.

Q: Which of the following would not result in a reduction of the amount invoiced to a customer when a…

A: The discount decreases the amount of payment to be paid to creditors or to be received from…

Q: A cash (sales) discount is usually granted to all of the following except a. retail customers. b.…

A: Discount: It refers to the amount or percentage deducted from selling price of the goods at the time…