On December 1, 2016, Lynch incorporated sold $18,000 of merchandise w.pdf
On December 1, 2016, Lynch incorporated sold $18,000 of merchandise w.pdf
on data from "Ethological Study of Facial Behaviour in Nonparanoid and Paranoid Schizophrenic Patients" by Pittman et al., Psychiatry, Vol. 144, No. 1). amount of eye contact in a 5 -minute period for a randomly selected person is: (i) At most 239 seconds. For x=239,z= (exact value) and P(X239)= (to 4 decimal places); (ii) At least 173 seconds. For x=173,z= (exact value) and P(X173)= (to 4 decimal places); (iii) Between 140 and 217 seconds. For x=140,z= (exact value); For x=217,z= (exact value); Therefore, P(140X217)= (to 4 decimal places); (b) Let x denote the average amount of eye contact in a 5 -minute period for a randomly selected sample of 100 people. Determine the mean and standard deviation of x. ==;(exactvalue);(exactvalue) (i) At most 195 seconds. For x=195,z= (exact value) and P(x195)= (to 4 decimal places); (ii) Between 167.5 and 200.5 seconds. For x=167.5,z= (exact value); For x=200.5,z= (exact value); Therefore, P(167.5x200.5)= (to 4 decimal places);.
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On December 1, 2016, Lynch incorporated sold $18,000 of merchandise w.pdf
- 1. On December 1, 2016, Lynch incorporated sold $18,000 of merchandise with terms 2/10, nEOM. On December 11, 2016, collections wore made on saies aniginalf Eilied for 512.000 , and on Deoembet 31,2016 , additional collections on sales originally billed for $5,000 were received. Requiredi 1. Prepare the joumal entries to record the sale, collections, and any required year-end adjuntmants assuming that Lynch reconds accounts riceivable and saies at (a) the gross price and (b) the net price. 2. Next Level Assume that Lynch's customer does not have the available cash to pay Lynch within the discount period How much intereat ahould the customer be wiling to pay for a loan fo permet them to take advantage of the discount period (assume no addidional cosis to the loan)? 3. Next Level Explain wfy Lynch s granting of cash (sabes) discounts may improve cash foum. Propare the joumal entries to rocord the sale, oolloctions and any required year-end adjustments assuming that Lynch rocords acoounts rocelvabie and saibes at the gross price. GENERAL JOURNAL Assume that Lynch's customer does not have the avallable cash fo pay Lynch within the discount pariod. How much interest should the customer be willig to pay far a kas fo permit then to take advantage of the discount poriod (assume no additional costs to the loan)? The customer would have to pay Lynch days socner to take acvartage of the 2% discount. Assuming 385 days in a yoar. 2%s intarest for days is equivalent to an annual interest raie of Therefore, with the assumption of no additional costs to the loan, any loan at a rate this rate would be advantageous for Lynchis customer. Explain why Lynch granting of cash (aales) disoounts may improve caah Aow. The cash isalesi discount polcy will enoourage payment as wel as addrional sales. If customers pay more promply. the length of time Lynch a money ia sed ue in receivabies wit