A company sells goods on credit. On one sale, they sold it for $35,000 and offered a 3/15, net/45 payment option. Four days after the sale, the customer complained and they allowed them a $2,500 sales allowance. The customer paid the net amount within 12 days after the sale. The cash proceeds received by the seller are? A. $20,000 B. $29,000 C. $31,525 D. $38,620

A company sells goods on credit. On one sale, they sold it for $35,000 and offered a 3/15, net/45 payment option. Four days after the sale, the customer complained and they allowed them a $2,500 sales allowance. The customer paid the net amount within 12 days after the sale. The cash proceeds received by the seller are? A. $20,000 B. $29,000 C. $31,525 D. $38,620

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 5P: A chain of appliance stores, APP Corporation, purchases inventory with a net price of 500,000 each...

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