The Quinter Corporation Ordered Material for Its Manufacturing Process with a Price

question 31

Multiple Choice

The Quinter Corporation ordered material for its manufacturing process with a price of $75,000 and that had terms of 1/10 net/30.What is the lowest amount of cash Quinter will have to pay if it meets the terms of the discount agreement?

• A)$67,500
• B)$75,000
• C)$74,250
• D)$52,500

---

Definitions:

Wages Payable

Liabilities arising from employees' salaries that are earned but not yet paid by the company, representing an obligation to pay for labor services received.

Depreciable Asset

An asset that loses value over time due to wear and tear or obsolescence and for which depreciation can be applied in accounting.

Chlorinated Hydrocarbons

Chemical compounds containing chlorine, carbon, and hydrogen, which are used in industrial applications but can be harmful to the environment and health.

Pesticides

Chemical substances used to kill or control pests including insects, weeds, and disease-causing organisms, in agricultural and residential settings.