Ag inc. made a $85,000 sale on account with the following terms: 1/15, n/30. if the company uses the net method to record sales made on credit, how much should be recorded as an account receivable on the date of sale?

$84,150

Explanation:

Given that

Sale amount = $85,000

Terms = 1% discount is given it payment is made within 15 days and the total credit period allowed is 30 days

The computation of the amount of account receivable that should be recorded is shown below:      

= Sale amount - sale amount  × discount rate given

= $85,000 - $85,000 × 1%

= $85,000 - $850

= $84,150

Simply we deduct the discount period from the sales amount so that the accurate value could come

muslims control the north africa during the period of 1500 up

to 1800. they made a barrier to prevent further european exploration from

entering the africa from the north. however, the dutch ware still able to move

toward the interior with having south africa as one of the routes leading to

the east for trading with asia.