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    khala01's Avatar
    khala01 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 29, 2015, 01:09 PM
    Accounting
    Purchased 10 bicycles for $5,000, paying $2,400 down and agreeing to pay the rest in 30 days. Iam confused with question
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
    Uber Member
    		  
    #2

    Sep 29, 2015, 06:40 PM
    What is confusing? Price - down payment / 30 =cost for day or /7 =cost per week. Are you sure that is the whole question?
    This is not accounting, it is simple math.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #3

    Sep 29, 2015, 07:25 PM
    Assuming you are studying accounting, a wild assumption. This would seem to be part of a multiple part question, the question might be asking you for the journal entries to record the transaction. Accounts like inventory, creditors, cash come to mind. One of the requirements of accounting is precision, another is clarity neither of these appear to be present in this question
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #4

    Oct 1, 2015, 10:02 AM
    Looks like a journal entry. There will be 3 accounts with your debits and credits equaling $5,000
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