Ask Question
BusinessBusiness
22 May, 05:57

Crane Company sells merchandise on account for $6000 to Blossom Company with credit terms of 1/10, n/30. Block Company returns $1400 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check

+3
Answers (1)
  1. 22 May, 08:29
    0
    The amount of check is $4,554

    Explanation:

    Term 1/10, n/30 means there is a discount of 1% is available on payment of due amount within discount period of 10 days after sale and net credit period of 30 days.

    According to given data

    Sales = $6,000

    Returns = $1,400

    Amount due = $6000 - $1,400 = $4,600

    As the payment is made within discount period, so discount will be availed

    Discount = $4,600 x 1% = $46

    Amount of Check = $4,600 - $46 = $4,554
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Crane Company sells merchandise on account for $6000 to Blossom Company with credit terms of 1/10, n/30. Block Company returns $1400 of ...” 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
Focus groups and mail-in questionnaires are examples of
Answers (1)
What is the average speed at 20sec
Answers (2)
Inadequate disclosure occurs when: a. A company attempts to overstate assets to make their financial position look better. b. Management makes statements that are wrong in its annual report or any other media. c.
Answers (1)
Chegg In year 1, the capital stock was 6, the labor input was 3, and output was 12. In year 2, the capital stock was 7, the labor input was 4, and output was 14. What happened to total factor productivity between the two years?
Answers (1)
In the disciplinary action process, what must occur immediately after management establishes rules?
Answers (1)
New Questions in Business
Paper Clip Company sells office supplies. The following information summarizes the company's operating activities for the year: Utilities for the store $ 10 comma 300 Sales commissions 10 comma 300 Sales revenue 164 comma 100 Purchases of
Answers (1)
If joe were to introduce himself as dr. early to sell to gensol, knowing that people would assume that he was a medical doctor, but never tell anyone that he was, would contracts entered into be considered to be fraudulent?
Answers (1)
Which of the following are reasons the aggregate demand curve is downward sloping? Check all that apply. 1) A higher price level decreases the real value of consumers' assets.
Answers (1)
If Gerry makes a deposit of $1,500 at the end of each quarter for five years, how much will he have at the end of the five years assuming a 12% annual return and quarterly compounding?
Answers (1)
Explain how globalization influence management
Answers (1)
Home » Business » Crane Company sells merchandise on account for $6000 to Blossom Company with credit terms of 1/10, n/30. Block Company returns $1400 of merchandise that was damaged, along with a check to settle the account within the discount period.
Sign Up Forgot Password?