You are watching: Sellers allow customers to use credit cards
Sellers allow customers to use crmodify cards for every one of the complying with factors except:To have the ability to charge even more due to fees and also interemainder.To lessen the hazard of extending credit to customers who cannot pay.To rate up receipt of cash from the credit sale.To rise total sales volume.To prevent having actually to evaluate a customer"s crmodify standing for each sale.
Which of the adhering to is not true regarding a crmodify card expense?Crmodify card price might be classified as a "discount" deducted from sales to gain net sales.Credit card expense might be classified as a marketing expense.Crmodify card price might be classified as an governmental cost.Credit card cost is not tape-recorded by the seller.Crmodify card price is a fee the seller pays for solutions provided by the card company.
A promissory note obtained from a customer in exreadjust for an account receivable is taped by the payee as:A cash equivalent.An account receivable.A note receivable.A momentary investment.A note payable.
Reporting the details of notes is constant with which audit principle that requires financial statements (consisting of footnotes) to report all appropriate information?Relevance.Full disclosure.Evaluation.Materiality.Expense acknowledgment (matching).
A promissory note:Is a short-term investment for the maker.Is a composed promise to pay a stated amount of money at a specific date.Is a licapability to the payee.Is one more name for an installment receivable.Cannot be supplied in payment of an account receivable.
The maturity date of a note receivable:Is the day of the credit sale.Is the day the note was signed.Is the day the note is as a result of be repassist.Is the date of the first payment.Is the last day of the month.
The interest accrued on $7,500 at 6% for 90 days is: (Use 360 days a year.)$450.00.$37.50.$112.50.$11.25.$1,800.00.
A firm borrowed $10,000 by signing a 180-day promissory note at 9%. The full interemainder due on the maturity day is: (Use 360 days a year.)$900$75$450$300$1,800
A company obtained $10,000 by signing a 180-day promissory note at 9%. The maturity worth of the note is: (Use 360 days a year.)$10,450$10,900$10,075$11,800$10,300
The top quality of receivables refers to:The creditworthiness of sellers.The speed of repertoire.The likelihood of collection without loss.Sales turnover.The interemainder price.
The account receivable turnover measures:How long it takes to market accounts receivable to a variable.How regularly, on average, receivables are got and accumulated during the period.The relation of cash sales to crmodify sales.How lengthy it takes to sell merchandise inventory.All of the alternatives are correct.
The accounts receivable turnover is calculated by:Dividing net sales by average accounts receivable.Dividing net sales by average accounts receivable and multiplying by 365.Dividing average accounts receivable by net sales.Dividing average accounts receivable by net sales and multiplying by 365.Dividing net income by average accounts receivable.
See more: Scary Stories To Tell In The Dark Dog, Scary Stories To Tell In The Dark (2019)
Axle Co."s accounts receivable turnover was 9.9 for this year and also 11.0 for last year. Betterman"s turnover was 9.3 for this year and 9.3 for last year. These results suggest that:Betterguy has actually the better turnover for both years.Axle has the better turnover for both years.Betterman"s turnover is boosting.Axle"s credit plans are also loose.Bettermale is collecting its receivables even more conveniently than Axle in both years.
All sales are made on crmodify. Based on past endure, the company approximates that 0.6% of net crmodify sales are uncollectible. What amount have to be debited to Bad Debts Expense as soon as the year-finish adjusting entry is prepared?$1,275$1,775$4,500$4,800$5,500
Fundamentals of Financial Management, Concise Edition (with Thomboy ONE)8th EditionEugene F. Brigham, Joel F Houston
Summary to Managerial Accounting via Connect Plusfifth EditionEric W. Noreen, Peter C. Brewer, Ray H Garrison
home window.lutz-heilmann.info<"productClickLinkData"> = <"name":"Chapter 10","id":"413980456","price":"","category":"premium content","variant":"research guide","position":"","brand":"olivia_mcnulty62">; QLoad("lutz-heilmann.info.productClickLinkData"); return;})}elsewindow.lutz-heilmann.info<"productClickLinkData"> = <"name":"Chapter 10","id":"413980456","price":"","category":"premium content","variant":"study guide","position":"","brand":"olivia_mcnulty62">; QLoad("lutz-heilmann.info.productClickLinkData"); return;;home window.place.assign("https://lutz-heilmann.info/413980456/chapter-10-flash-cards/");" id="1-413980456">