Homework Answers
Answer
- If payment is made within 10 days, a 2% discount will be availed as per discount term.
- 2% discount (Purchase discount) = $ 3500 x 2% = $ 70
- Net amount to be paid = $ 3500 – 70 = $ 3430
- Hence, Cash is to be credited by $ 3430
- Correct Answer = Option ‘D’ None of the above, because in no options the cash is credited by $ 3430.
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