ABC Corporation Has Received an Invoice for $4,500 with Terms

question 130

Short Answer

ABC Corporation has received an invoice for $4,500 with terms of 3/15, n/50. If ABC pays the invoice on the seventeenth day, the Cash account will be credited for what value?

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Definitions:

Generalized Other

People who don’t have close ties to a child but who influence the child’s internalization of society’s norms and values.

Society's Norms

The unwritten rules and expectations that guide behavior and interactions within a community or society.

Accrued Wages

Wages that have been earned by employees but have not yet been paid by the employer.

Liabilities

Financial obligations or debts that a company owes to external parties.