Payment for subscriptions is billed one month in advance. First month's payments are pro-rated for the amount due up until the 15th of the month plus the next month's bill amount. All monthly payments are due by the 15th of each month. Payments received after the 20th of the month will result in a late fee of $20.00. The late fee may be waived one time per year. A customer calls and has questions about the bill for their first month's subscription. They want to know why the monthly rate is $45.00, but the bill is for $60.00. What is the most likely reason for the bill being this amount?
A. The customer owes a late fee in addition to the subscription amount.
B. There was a mistake and the customer was over-charged.
C. The subscription began about 10 days before the 15th of the month.
D. The customer's account was upgraded to the next subscription level.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Payment for subscriptions is billed one month in advance. First month's payments are pro-rated for the amount due up until the 15th of the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Choco-Delite Cookies Company (Choco) declared a $1,600,000 cash dividend on December 15, Year 2, payable to all stockholders on record the following month.
Answers (1)
Generally the preferred method of making decisions within an organization is the
Answers (1)
At the beginning of the year, Gonzales Corporation had $100,000 in cash. During the year, the company undertook a major expansion.
Answers (1)
The dictator of a certain country requires that companies planning to open or expand must pay a large fee to file an application one year prior to building new factories or expanding existing ones.
Answers (1)
On January 1, Duffy Enterprises issued $100,000 in bonds that mature in 10 years. The bonds were issued at 104. The bonds have a stated interest rate of 8%. The bonds pay interest once per year on December 31.
Answers (1)
New Questions in Business
On Jan 1, 2011, P. T. Scope Company purchased a computer system for $3,240. The company expects to use the system for 3 years. The asset has no salvage value. The book value of the system at Dec 31, 2012 is
Answers (1)
What minimum amount of body weight loss (lbs) is shown to improve physical capabilities and quality of life?
Answers (1)
Bank A has an increase in deposits of $20 million dollars and all bank reserve requirements are 10%. Bank A loans out the full amount of the deposit increase that is allowed. This amount winds up deposited in Bank B.
Answers (1)
In the context of foreign direct investment, a joint venture involves the merger of companies.
Answers (1)
Classify the following changes in each of the accounts as either an outflow or an inflow of cash. During the year (a) marketable securities increased, (b) land and buildings decreased, (c) accounts payable increased, (d) vehicles decreased, (e)
Answers (1)