A company purchased $4,500 of merchandise on May 1 with terms of 2∕10, n∕30. On May 6, it returned $250 of that merchandise. On May 8, it paid the balance owed for merchandise, taking any discount it is entitled to. The cash paid on May 8 is a. $4,500. c. $4,160. e. $4,410. b. $4,250. d. $4,165.
A company purchased $4,500 of merchandise on May 1 with terms of 2∕10, n∕30. On May 6, it returned $250 of that merchandise. On May 8, it paid the balance owed for merchandise, taking any discount it is entitled to. The cash paid on May 8 is a. $4,500. c. $4,160. e. $4,410. b. $4,250. d. $4,165.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
Question
A company purchased $4,500 of merchandise on May 1
with terms of 2∕10, n∕30. On May 6, it returned $250 of
that merchandise. On May 8, it paid the balance owed for
merchandise, taking any discount it is entitled to. The cash
paid on May 8 is
a. $4,500. c. $4,160. e. $4,410.
b. $4,250. d. $4,165.
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