ACCT 2050 Lecture Notes - Lecture 6: Money Order, Sunsoft, Suse Linux Distributions
Document Summary
Credit c. rds incre. se s. les . nd . llow c. sh quicker, but h. ve . tr. ns. ction fee. To find the interest r. te, t. ke . mount s. ved/. mount p. id. S. les revenue - credit c. rd discounts, s. les discounts . nd s. les returns. Merch. ndise invoiced . t ,500 is sold on terms 1/10, n/30. In the following order, except for c. sh s. les, the comp. ny sold merch. ndise . nd m. de collections on credit terms 2/10, n/30 (. ssume . unit s. les price of in . ll tr. ns. ctions . nd use the gross method to record s. les revenue). A comp. ny sending more inventory th. n c. n be sold, . nd fudging revenue numbers b. sed on th. t. Collect 88200, . ll p. id within 2% discount period. An estim. te of . ccounts receiv. ble or s. les th. t won t be p. id by customers. B. d debt is . direct expense . g. inst net income. B. d debt is . n expense . ccount, incre. sed by debits. Allow. nce for doubtful . ccounts is . direct subtr. ction from . ccounts receiv. ble, . contr.
