Marriott Hotels purchased ten iRobot Roomba i7+ for $945 each. It received a 15% discount for buying more than two and an additional 3% discount for immediate delivery. Terms of payment were 4/10, n/30. Marriott Hotels pays the bill within the cash discount period. How much should the check be written for? Note: Do not round intermediate calculations. Round your final answer to the nearest cent. > Answer is complete but not entirely correct. $ 7,479.90 x Amount

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A couch is priced at $980.00 if bought for cash. On the stores installment plan, a down payment of $100 and 24 payments of $45 each are required. What is the finance charge?

Max Corp. sold goods for $36,000 on July 17, 2020, and accepted a 12%, 90-day note. On August 1, the note was sold to a bank at a 15% discount rate. Required: a. Compute the proceeds. Assume a 360-day year. b. If the maker dishonored the note at maturity, prepare the entry for Max Corp. assuming $75 of bank protest fees. If an amount box does not require an entry, leave it blank.

As a jewelry store manager, you want to offer credit, with interest on outstanding balances paid monthly. To carry receivables, you must borrow funds from your bank at a nominal 10%, monthly compounding. To offset your overhead, you want to charge your customers an EAR (or EFF%) that is 3% more than the bank is charging you. What APR rate should you charge your customers? Do not round intermediate calculations. Round your answer to two decimal places. %

FIGURE OUT THE NEW STATEMENT BALANCE. You have a credit card that charges 18.99% on any outstanding balances, and 25% on cash advances, plus a fee of 3% of the amount of the cash advance. The closing date on the credit card is the 1st of each month. Last month you left a balance of $1800 on your credit card. This month you took out a cash advance of $450 and made $1600 in additional purchases. You made a payment of $950. What will the total of your new balance be on your next credit card statement, taking into account finance charges?

6. A business allows customers to pay with a credit card or with cash. If paid with cash, the customer receives a discount of 100r%, where 0

Question: Presented below is the information for Skysong Company. Beginning of the year Accounts Receivable balance was $23600. Net sales (all on account) for the year were $103100. Skysong does not offer cash discounts. Collections on accounts receivable during the year were $90300. Skysong is planning to factor some accounts receivables at the end of the year. Accounts totaling $14100 will be transfered to Credit Factors, Inc with recourse. Credit Factor will retain 7% of the balances for probable adjustments and assesses a finance charge of 6%. The fair value of the recourse obligation is $1021. Prepare the journal entry to record the sale of the receivables. Compute Skysongs accounts receivable turnover for the year, assuming the receivables are sold.

American Express and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 17.25%, with interest paid monthly, what is the card's EFF%? Select the correct answer.   a. 18.68%     b. 12.88%     c. 9.98%     d. 24.48%     e. 15.78%

What does​ "2/10" mean, with respect to​ "credit terms of​ 2/10, n/30"?         A. A discount of 2 percent will be allowed if the invoice is paid within 10 days of the invoice date.   B. Interest of 2 percent will be charged if the invoice is paid after 10 days from the date on the invoice.   C. A discount of 10 percent will be allowed if the invoice is paid within two days of the invoice date.   D. Interest of 10 percent will be charged if invoice is paid after two days.