What is the average accounts payable for APP?

Q: A retailer received an invoice for the purchase of twenty rackets at RM140 each. He was given trade…

A: Retailers and wholesalers want to know the one single discount rate that equates to a series of…

Q: You have a carryover balance of $968 on a credit card that has a 15.99% annual percentage rate…

A: Here,Carryover Balance is $968APR is 15.99%Payment is 8% of Ending Balace of Month

Q: A company regularly sells its receivables to a factor who assesses a 2% service charge on the amount…

A: REASON : AS COMPANY IS SELLING ITS RECEIVABLE THEN SERVICE CHARGE IS DEDUCTED , IT WILL…

Q: ing situation applies to ABC Co. The company’s Financial Department asks Barclays bank a $80,000…

A: Cash Budget is the estimated cash inflows and outflows during a particular period of time.  It is…

Q: Give true calculation

A: Step 1: Introduction to the Sales DiscountA sales discount is a percentage of the total purchase…

Q: From the following facts, Molly Roe has requested you to calculate the average daily balance. The…

A: Average daily balance refers to the method of accounting used for calculating the amount of interest…

Q: Sheridan Grocers has a reward program by which credit is provided on account every time a customer…

A: Liability means the amount which is to be paid to an outsider by business.  It is the present…

Q: New Sunrise Bookstore sold 600 books on credit at $20.00 each with a sales term of 2/10 n/30. The…

A:

Q: A store will give you a 4.50% discount on the cost of your purchase if you pay cash today.…

A: The implicit rate of borrowing is the cost paid in the terms of discount by the customer if the…

Q: DOLLAR BILL'S, a retail store in New York City, buys its inventory on credit.  Upon purchase, it is…

A: Situation 1:Step 1: Calculate the Operating CycleInventory Period: 60 days (given)Accounts…

Q: DOLLAR BILL'S, a retail store in New York City, buys its inventory on credit. Upon purchase, it is…

A: Cash conversion cycle refers to the period consumed in converting the cash spent on expenses to…

Q: A store will give you a 3% discount on the cost of your purchase if you pay cash today. Otherwise,…

A: Customers who choose to defer payment for the month will be letting go of the discount that they…

Q: Determine the best order size of shirts.

A:

Q: Blackwell Co. has credit sales of $317,428, costs of goods sold of $151,217, and average accounts…

A: Days sales in outstanding is the number of days required to collect receivables from credit…

Q: Take me to the text Sleiger Spa has a net accounts receivable opening balance of $223,000 and and…

A: Given, Sleiger Spa Net accounts receivable opening balance= $223,000. Ending balance= $176,000.…

Q: Cook's security system has a $37,500 line of credit, which charges an annual percentage variety of a…

A: The line of credit is a pre-approved limit offered by financial institutions or banks. You can draw…

Q: If vests costing $00 with terms 2/20, n/60 ROG were received by the company on April 12 with an…

A: The invoice with term ROG states that due date for invoice would be counted from the date of receipt…

Q: Boeing Truck Company received an invoice showing 10 tires at $125 each, 13 tires at $178 each, and…

A: The question is based on the concept of Financial Accounting. While calculating the discounted…

Q: If the total Accounts Receivable of HAPPY ENTERPRISES is 560,000 and gives its customers a 5%…

A: Accounts Receivable means accounts of those customers to whom business has made credit sales on…

Q: A chain of appliance stores, APP Corporation, purchases inventory with a net price of $700,000 each…

A: Accounts payable are those supplier accounts from whom business has made credit purchases but amount…

Q: Maximum Inc. (retailer) has a loyalty program that rewards its customers one point per $1 spent.…

A: Journal is the primary book where the transactions are originally recorded. Further, a journal entry…

Q: A company sells goods on credit. On one sale, they sold it for $20,000 and offered a 2/10, net 30…

A: Given that, Selling price =$20,000 Discount scheme = 2/10,net 30 payment Because of complaint given…

Q: Myint's Merchandise Co., a retailer of everyday kitchen supplies, buys $4.5 million of goods from…

A: Nominal cost of trade credit  =[ Discount/(100- Discount)] × [365 days/(Days credit outstanding -…

Q: A company has $235,000 in credit sales. The company uses the allowance method to account for…

A: Allowance for doubtful accounts is an provision that is made for those accounts receivable to whom…

Q: ABC Company sells all its merchandise on credit. Given the following information, what is the…

A: Given data, Profit Margin = 5.8% Average Collection Period = 53 days Accounts receivable = 250,000…

Q: Assume that Tariq Electronics LLC sold 50 Laptops @ OMR 250 each to a reseller on credit . To…

A: 2.5% if paid within 10 days 1% if paid within 30 days

Q: With regard to accounts payable: Explain (including computations) the rationale of taking a cash…

A: Discount Terms (4/8, n/30):4/8 means a 4% cash discount is offered if payment is made within 8 days,…

Q: The XYZ Company sold goods worth $10,000 on credit. The terms of the sale are 2/10, net 30.…

A: In this scenario, the XYZ Company made a credit sale of goods amounting to $10,000. The terms of the…

Q: Charlet Company sells office chairs to its customers. On May 2, Rutherford Corporation purchased 16…

A: Term 7/21 means if payment made within 21 days then 7% cash discount will received.Term n/50 means…

Q: The Dimitros Company records the following transactions during September 2018: Cash sales to…

A: Sales Revenue - Sales are recorded by company on cash and on credit basis. Cash collected is…

Q: What is the implicit borrowing rate being paid by customers who choose to defer payment for the…

A: Information Provided: Discount rate = 4.75% Amount due (time) = In 1 month

Q: Walters widgets received a bill for merchandise with a net price of $7170.26 . Walter is offered a…

A: Total Due = Net Price = 7170.26 2% Discount if paid within 10 days Paid 4000 on 9th day

Q: Assignment: Present entries to record the following for a business that uses the Allowance Method:…

A: Adjusting entries are the one which are prepared at the year-end to rectify the errors and omissions…

Q: Sunbridge Stores prints a coupon on the bottom of all its May sales receipts for $3 off the…

A: Companies offer sales coupons to increase their future sales. The coupon comes with cash discount on…

Q: Within 10 days following a sale, a company receives payment of a $20,000 account receivable with…

A: Sales discount = Accounts receivable x rate of discount

Q: Boeing Truck Company received an invoice showing 12 tires at $114 each, 15 tires at $157 each, and…

A: An account payable is defined as the amount a business owed for purchases they made on credit. they…

Q: fers two credit terms to YVONE as follows: Credit term number 1: 2/15, net 30 C

A: A term that helps in indicating when the amount of payment is due for the sales and made on credit…