Question

A credit sale of $2900 is made on july 15 terms 2/10 n/30 on which a return of 300 is granted on july 18. What amount is received as payment in full on July 24?

a. $900
b. $833
c. $850
d. $882

Answer 1

$2,548

Step-by-step explanation:

The computation of the amount received as on payment in full on July 24 is shown below:

= Sale made - returned goods

= $2,900 - $300

= $2,600

Now the full payment would be

= net sales - discount rate of net sales

= $2,600 - 2% of $2,600

= $2,600 - $52

= $2,548

This is the answer but the same is not provided in the given options

We simply applied the above formula so that the correct value could come

And, the same is to be considered