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Questions tagged 'Payment Terms'

2 questions

A
Anonymous

Feb 16, 2025

Presented below is information from perez computers incorporated. july 1 sold $20,000 of computers to robertson company with terms

Presented below is information from Perez Computers Incorporated. On July 1, the company sold $20,000 worth of computers to Robertson Company with terms of 3/15, n/60. Perez uses the gross method to r...

A
Anonymous

Dec 21, 2024

LOL Music Store uses the periodic inventory system to account for its merchandise. On November 17, it purchased $1,000 of merchandise

LOL Music Store uses the periodic inventory system to account for its merchandise. On November 17, the store purchased $1,000 worth of merchandise with terms of 2/5, n/60. If payment is made on Novemb...