Alpha Geek

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  • bachelor in business administration
    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

  • CPA
    Polytechnic State University
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Category > Accounting Posted 05 May 2017 My Price 7.00

How long do you have to pay before the account is overdue?

 

You place an order for 2,800 units of Good X at a unit price of $65. The supplier offers terms of 2/10, net 50. (Enter your answer as directed, but do not round intermediate calculations.)
Requirement 1:
(a) How long do you have to pay before the account is overdue?
   
  Number of days days
   
(b) If you take the full period, how much should you remit?
   
  Remittance $   
Requirement 2:
(a) What is the discount being offered? (Enter your answer as a percentage.)
   
  Discount rate %  
   
(b) How quickly must you pay to get the discount?
   
  Number of days days
(c) If you do take the discount, how much should you remit?
  Remittance $   
 
Requirement 3:
(a)

If you donAc€?ct take the discount, how much interest are you paying implicitly?
   
  Implicit interest $   
   
(b) How many daysAc€?c credit are you receiving?
   
  DaysAc€?c credit days
 
 

Answers

Alpha Geek
(8)
Status NEW Posted 05 May 2017 12:05 PM My Price 7.00

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Attachments

file 1493986894-Answer.docx preview (249 words )
Y-----------ou -----------pla-----------ce -----------an -----------ord-----------er -----------for----------- 2,-----------800----------- un-----------its----------- of----------- Go-----------od -----------X a-----------t a----------- un-----------it -----------pri-----------ce -----------of -----------$65-----------. T-----------he -----------sup-----------pli-----------er -----------off-----------ers----------- te-----------rms----------- of----------- 2/-----------10,----------- ne-----------t 5-----------0.Â----------- (E-----------nte-----------r y-----------our----------- an-----------swe-----------r a-----------s d-----------ire-----------cte-----------d, -----------but----------- do----------- no-----------t r-----------oun-----------d i-----------nte-----------rme-----------dia-----------te -----------cal-----------cul-----------ati-----------ons-----------.) ----------- Re-----------qui-----------rem-----------ent----------- 1:----------- (-----------a) -----------How----------- lo-----------ng -----------do -----------you----------- ha-----------ve -----------to -----------pay----------- be-----------for-----------e t-----------he -----------acc-----------oun-----------t i-----------s o-----------ver-----------due-----------? ----------- Â----------- Nu-----------mbe-----------r o-----------f d-----------ays----------- da-----------ys ----------- (b-----------) I-----------f y-----------ou -----------tak-----------e t-----------he -----------ful-----------l p-----------eri-----------od,----------- ho-----------w m-----------uch----------- sh-----------oul-----------d y-----------ou -----------rem-----------it?----------- Â----------- Â -----------Rem-----------itt-----------anc-----------e $----------- Â----------- Â ----------- R-----------equ-----------ire-----------men-----------t 2-----------: -----------(a)----------- Wh-----------at -----------is -----------the----------- di-----------sco-----------unt----------- be-----------ing----------- of-----------fer-----------ed?----------- (-----------Ent-----------er
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