Roco Industries purchased $10,000 of merchandise on February 1, 2020 with credit terms of 2/10, n/60. It returned $2,500 worth of merchandise on February 4. Roco uses the periodic inventory system and net method for recording purchase discounts. Assume Roco paid its invoice on March 9. What is the effect of the entry to record the payment on March 9 on Roco’s assets, liabilities and equity, respectively?
Solved
Show answers
More tips
- F Family and Home Ways to Attract Wealth into Your Home...
- F Family and Home 5 Tips for Choosing Toys for Your Child...
- L Leisure and Entertainment How to Find a Phone Number by Address: The Ultimate Guide...
- P Philosophy How to Properly Create a Vision Board?...
- C Computers and Internet What is Web 2.0 and How Does it Work?...
- S Style and Beauty Is Photoepilation the Solution to Unwanted Hair Forever?...
- O Other What is a Disk Emulsifier and How Does it Work?...
- F Family and Home What does a newborn need?...
- F Family and Home Choosing the Right Car Seat for Your Child: Tips and Recommendations...
- F Food and Cooking How to Get Reconfirmation of Registration?...
Answers on questions: Business
- S Social Studies Whats the mood of whats going on...
- B Biology Which are specific to just prokaryotes, or just plants, or just animals?...
- E English Cunipical ulud 3. connect in lines 35-50, how does the author develop his ideas about the elaborate manner in which people move en masse ? use evidence from the leal to draw...
Ответ:
C
Explanation:
Investment in a DPP (Direct Participation Program)
A direct participation program (DPP) is a direct participation plan, they are non-traded pooled investments in real estate or also in energy business over an extended time frame.
DPPs are not traded, that means that they lack the ability to be liquid and also not a reliable pricing mechanism. With DPPs there usally is a requirement for clients to meet up with asset and income thresholds to invest.