Day Company Purchased $3,000 of Merchandise on Credit, Terms 3/15

question 108

Multiple Choice

Day Company purchased $3,000 of merchandise on credit, terms 3/15 n/30. The entry to record payment for the merchandise within the discount period under a perpetual inventory system would include a:

• A)debit to Inventory of $1,940.
• B)debit to Accounts Payable of $1,940.
• C)credit to Purchase Discounts of $90.
• D)credit to Inventory of $90.

Understand and calculate capital gain yield on real estate investments.

Calculate the compound annual growth rate (CAGR) of an investment.

Understand the relationship between nominal and effective interest rates.

Calculate the time required for an investment to reach a specific value under compound interest.

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