Analyze the discount period


Response to the following problem:

On December 1, 2006, Cardinal Company, a garden retailer, purchased $20,000 of corn seed, terms 2/10, n/30, from Iowa Farm Co. Even though the discount period had expired, Sandi Kurtz subtracted the discount of $400 when she processed the documents for payment on December 15, 2006.

Discuss whether Sandi Kurtz behaved in a professional manner by subtracting the discount, even though the discount period had expired.

Request for Solution File

Ask an Expert for Answer!!
Financial Accounting: Analyze the discount period
Reference No:- TGS02131117

Expected delivery within 24 Hours