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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.
Q. Explain Merchandise inventories? Merchandise inventories are goods supposed for sale. Section 6 starts our discussion of merchandise inventories.
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
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While studying evolution, a student comes across a cladogram that includes clades like amphibia, reptilia, aves, and mammalia. What must be the basal clade?
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untangible assets
On December 31, 2003, Jamfest Travel Inc. had 450,000 shares of no-par common stock issued and outstanding. All shares were sold for $7.50. On June 30, 2004, the firm issued an add
Q. What do you eman by Expenditure? Expenditure -- an expenditure takes place when something is attained for a business -- an asset isbought, salaries are paid and so on. An ex
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