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Q. Explain about Sales discounts?
Sales discounts when a company sell goods on account it clearly specifies terms of payment on the invoice. For instance the invoice in Exhibit 34 states the terms of payment as net 30. Net 30 are sometimes written as n/30. Either way this term denotes that the buyer may not take a discount and should pay the entire amount of the invoice (USD 20000) on or before 30 days after 2010 December 19 (invoice date)-or 2011 January 18. The terms had read n/10/EOM (EOM means end of month) the buyer could not take a discount as well as the invoice would be due on the 10th day of the month following the month of sale-or 2011 January 10. Credit terms differ from industry to industry.
Start in cell E3. Complete the series of substitution values ranging from 5 to 15 at increments of 1, vertically down column E.
Which type of error would cause an entry in the suspense account? A. A page total from the purchases journal was posted as $9780 rather than the correct figure of $9870. B. C
the books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found later
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You received an email from Carl the operations manager from the California Container division. They produce packaging for cell phones. Carl understands that his product is an imp
GENERAL
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