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zmey [24]
2 years ago
5

Concord Company sells merchandise on account for $5700 to Ivanhoe Company with credit terms of 2/10, n/30. Ivanhoe Company retur

ns $1000 of merchandise that was damaged, along with a
check to settle the account within the discount period. What is the amount of the check?
$4700
$4606
$5586
$5606
Business
1 answer:
Anna71 [15]2 years ago
6 0

Answer:

The right solution is Option b ($4606 ).

Explanation:

The given values are:

Company sells merchandise,

= $5700

Company returns,

= $1000

Now,

The amount of the check will be:

= (5700-1000)\times 98 \ percent

= (5700-1000)\times 0.98

= 4700\times 0.98

= 4606 ($)

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