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yawa3891 [41]
3 years ago
12

A company purchased $9,100 of merchandise on June 15 with terms of 3/10, n/45. On June 20, it returned $455 of that merchandise.

On June 24, it paid the balance owed for the merchandise taking any discount it was entitled to. The cash paid on June 24 equals _________.
Business
1 answer:
elena-14-01-66 [18.8K]3 years ago
3 0

Answer:

$259.35

Explanation:

The computation of the amount of cash paid is shown below:

= (Purchase value of merchandise - returned goods of merchandise - discount charges)

= ($9,100 - $455 - $259.35)

= $8,385.65

The discount charges is

= (Purchase value of merchandise - returned goods of merchandise) × discount rate

=  ($9,100 - $455) × 3%

= $259.35

We simply applied the above formula

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3 years ago
Concord Company on July 15 sells merchandise on account to Pharoah Co. for $3800, terms 3/10, n/30. On July 20 Pharoah Co. retur
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Answer:

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6 0
3 years ago
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