What are foster''s sales net of cash discounts taken

Reference no: EM131407807

Foster Industries sells on terms of 2/10, net 35. Gross sales last year were $450,000, and accounts receivable averaged $60,000. Half of Foster's customers paid on Day 10 and took discounts.

(a) What are Foster's sales net of cash discounts taken?

(b) What is the total dollar finance charge paid by the non-discount-paying customers?

Reference no: EM131407807

Questions Cloud

Identify claims that greene makes in the hidden reality : Group work in class asked you to identify five claims that Greene makes in The Hidden Reality. For homework, consider two of the major claims that you noticed in the reading (they need not be taken directly from your group discussion). For each ..

Compute the loan’s apr and rear : Carefree Leisure has a 40-day discount interest loan outstanding. The principal amount of the loan is $60,000, its quoted interest rate is 12 percent, and there is no compensating balance requirement. Compute the loan's APR and rEAR.

How aging will affect specific health care delivery services : Discuss how this aging of such a large segment of the population will affect specific health care delivery services and organizations.

What is the main issue that this rule is trying to address : What is the main issue that this rule is trying to address? How does your company policy and/or practice comply or not comply with this rule? What changes to your current practice do you recommend? Provide specific examples and don't forget to ..

What are foster''s sales net of cash discounts taken : Foster Industries sells on terms of 2/10, net 35. Gross sales last year were $450,000, and accounts receivable averaged $60,000. Half of Foster's customers paid on Day 10 and took discounts.

Discuss the principles of evidence based medicine : To introduce the student to the principles of Evidence Based Medicine (EBM) through use of a case-based presentation. The student will demonstrate the ability to formulate a clinical case study, perform an efficient literature search and apply the..

Recent decrease in company stock value : Tell your investors or employees about a recent decrease in your company's stock value. Inform employees of a coming round of layoffs at your place of business.

Non-graded assignment : This QEP assignment is a non-graded assignment and it deals with Ethics at the workplace. This assignment will give you the opportunity to identify an ethical situation at the workplace as it confronts you and how to deal and resolve ethical dilem..

Difficult than the strategy formulation phase : Learning Activities 1: Vince Lombardi was quoted as saying "The best game plan in the world never blocked or tackled anybody"; strategist often believe their work is done once they've identified the right strategy to be implemented, but in reality..

User Account

All Pages