Under credit terms payment is not made immediately and it is agreed by both buyer and seller. The credit terms are customary in various businesses especially manufacturing industries. A manufacturer of cosmetics for example can allow its buyers a period of 30 days to pay for the purchase of finished goods as it can take some time to generate some cash out of selling the products. To force customers for early payment a discount is added in credit terms denoted as 3/10 net 30. This is a commonly used credit term that means a customer can avail a discount of 3% if the payment is made within 10 days, however, the customer has to pay the full amount within 30 days.
Connors Corporation acquired manufacturing equipment for use in its assembly line.
Edna Millay Inc. is a manufacturer of electronic components and accessories
Expert Computers was started in 2018. The company experienced the following
The following data were selected from the records of Sykes Company for
Donna Jamison, a 2003 graduate of the University of Florida with
Toot Auto Supply distributes new and used automobile parts to local dealers
Dan Barnes, financial manager of Ski Equipment Inc. (SKI
Jane Geddes Engineering Corporation purchased conveyor equipment with a list price of
Cruise Industries purchased $10,800 of merchandise on February 1
Air Spares is a wholesaler that stocks engine components and test equipment
