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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.
how to find profit income from bank?
The Institute of Management Accountants previously the National Association of Accountants is an organization with approximately 70,000 members consisting of management accountants
Below is the share price, taken annually over the last ten years, and a table of dividends paid over the last ten years, for each Bendigo and Adelaide Bank and Commonwealth Bank.
Which of the following transactions does not involve an exchange of value? a. Payment of a debt b. Purchase of a building on credit c. Borrowing money d. Loss from theft
Q. What do you understand by Deferred income? Deferred income -- a liability which arises when a company is paid in advance for services orgoods that will be provided later. Fo
The organization's name is Coffee Affectionardo Pty Ltd and the company imports and sell various types of coffee machines, grinders, filters and beans. The business has two dir
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Graham maintains that formulation and implementation are phases in the strategic management process. Yolanda maintains that evaluation and estimation are also part of this proc
Personal accounts --> Debit the benefit receiver, credit the benefit giver Real accounts --> Debit what comes in, credit what goes out Nominal Accounts --> Debit all expenses
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