The amount that will be received as payment in full by the seller after deducting the return of $250, and applying the 2/10, net/30 terms will be equal to $4,361 on May 4.
<h3>What is the 2/10, net/30 rule?</h3>2/10 Net 30 refers back to the change credit offered to a customer for the sale of products or services. 2/10 net 30 approach that if the amount due is paid within 10 days, the customer will experience a 2% discount.
Otherwise, the amount is due in complete within 30 days.
As per the information:
Selling price: $4,700
Discount: 2% (if paid within 10 days of purchase)
returned: $250
The actual amount to be received by the seller:
Hence, The amount that will be received as payment in full by the seller after deducting the return of $250, and applying the 2/10, net/30 rule will be equal to $4,361 on May 4.
learn more about 2/10 Net 30 terms:
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