Question

Question 1 (of 10) Beacon Food Stores purchased canned goods at an invoice price of $5.600 and terms of 4/10, 1/30 Half of the goods had been mislabeled and were returned immediately to the supplier if Harvest Food pays the remaining amount of the invoice within the discount period, the amount paid should be O $5,376 $2.688 O $2,576 O 55,600

Answer 1

Answer:. All amount in dollars

Given that,

Invoice price of goods = 5600

Discount rate = 4%

Discounting period = 10 days net 30 days

Half of the goods immediately returned to supplier i.e. 5600/2 = 2800

Now,

Amount paid = 2800 - (2800*4%)

= 2688