2.  refers to arrangements made with customers as to when the goods/services are to be paid for and whether a cash discount is offered.

3. COD—cash on deliver On Account—full amount of invoice is due when invoice is received Net 30—full amount of invoice is due 30 days after the invoice date 2/10, n/30—2% discount may be taken if invoice is paid within 10 days, or full amount is due 30 days after the invoice date

5.  Nanaimo Marina Purchase: Purchases411.90 HST Recoverable 53.55 A/P- Masthead Marine 465.45

6. Payment made with Discount: A/P- Masthead Marine465.45 Discounts Earned9.31 Bank 456.14 COGS CR

7.  Masthead Marine Sales: A/R- Nanaimo Marina465.45 Sales411.90 HST Payable 53.55

8. Payment Received with Discount: Bank456.14 Discount Allowed 9.31 A/R- N. Marina465.45 Sales Discount DR

9.  Ex. 1, 3, pp. 432-433 (t), pp. 353-354 (w)  Ex. 11 p. 462 (t), p. 377 (w)