A company purchased $3,200 of merchandise on July 5 with terms 1/10, n/30. On July 7, it returned $350 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: Multiple Choice $2,822. $350. $2,818. $3,200. $2,850.
A company purchased $3,200 of merchandise on July 5 with terms 1/10, n/30. On July 7, it returned $350 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: Multiple Choice $2,822. $350. $2,818. $3,200. $2,850.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![A company purchased $3,200 of merchandise on July 5 with terms 1/10,
n/30. On July 7, it returned $350 worth of merchandise. On July 8, it paid the
full amount due. The amount of the cash paid on July 8 equals:
Multiple Choice
$2,822.
$350.
$2,818.
$3,200.
$2,850.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4691cc3f-1c96-4b8c-a360-41587fc885ca%2Fc57fa079-fe8c-4087-abdb-3518adc09e46%2Fd5dnyrb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A company purchased $3,200 of merchandise on July 5 with terms 1/10,
n/30. On July 7, it returned $350 worth of merchandise. On July 8, it paid the
full amount due. The amount of the cash paid on July 8 equals:
Multiple Choice
$2,822.
$350.
$2,818.
$3,200.
$2,850.
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