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If the amount of credit is 300,000 how much is the discount if the debtor is given a credit term of 2/10 N/30?show your

User SSharma
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1 Answer

4 votes

Answer:

6,000

Step-by-step explanation:

In credit sales, 2/10 Net 30 means that the seller has offered the customer a trade discount. 2/10 net 30 is a conditional discount available if payment is made in 10 days. It's a 2% discount should the customer pay in 10 days, if not so, the full amount is due within 30 days.

The discount amount for 300,000 is 2 percent of 300,000.

=2/100 x 300,000

=0.02 x 300,000

=6,000

User Vishwajit Palankar
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