Universal exports inc. has a very attractive credit policy, and none of its customers pays in cash when the firm makes a sale. universal exports inc. sells to its customers on credit terms of 3/10, net 30. if a customer bought $100,000 worth of goods and paid the firm cash eight days after the sale, how much cash would universal exports inc. get from the customer? $92,500 $90,000 $97,000 $85,000 if the customer paid off the account after 15 days, universal exports inc. would receive . approximately 35% of universal exports inc.’s customers take advantage of the discount and pay on the 10th day. the remaining 65% take an average of 35 days to pay off their accounts. what is universal exports inc.’s days sales outstanding (dso), or the average collection period? 23.63 days 26.25 days 24.94 days 31.50 days

$97,000 ;  26.25 days

Explanation:

The computations are shown below:

1. The cash collected would be

= Sale value of goods × (1 - discount rate)

= $100,000 × (1 - 3%)

= $100,000 × 0.97

= $97,000

2. The days sales outstanding would be

= Number of days for advantage × advantage percentage + remaining percentage × average days to pay off their accounts

= 10 days × 35% + (1 - 0.35) × 35 days

= 3.5 days + 22.75 days

= 26.25 days

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know