Adepartment store offers you the following credit card offer: no money down and no interest for 5 years. you have been considering a new furniture purchase for your home and decide to sign up for this attractive offer as you purchase $10,000 worth of furniture. since personal funds are low, you decide to utilize the no payment, no interest option for 5 years, and plan to begin making the 2% per month payments when the five year offer ends. you also decide not to make any more charges on this credit card.

Renaldo scanlon is a financial consultant. he earns $30 per hour and works 32.5 hours a week. what is his straight-time pay?

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.

On june 3, teal company sold to chester company merchandise having a sale price of $2,600 with terms of 2/10, n/60, f.o.b. shipping point. an invoice totaling $91, terms n/30, was received by chester on june 8 from john booth transport service for the freight cost. on june 12, the company received a check for the balance due from chester company. prepare journal entries on the teal company books to record all the events noted above under each of the following bases. (1) sales and receivables are entered at gross selling price. (2) sales and receivables are entered at net of cash discounts.