Inventory costing $3,500 is sold for $4,900 with terms 2/10, n/30. If the buyer pays within...

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Question

Inventory costing $3,500 is sold for $4,900 with terms 2/10, n/30. If the buyer pays within...

Inventory costing $3,500 is sold for $4,900 with terms 2/10, n/30. If the buyer pays within the discount period, what amount will be reported on the income statement as net sales?

A) $1,400

B) $4,900

C) $3,745

D) $4,802

business accounting

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Answer 1

Answer #1

Net Sales

= Sales - Discount

= 4900 - (4900*2%)

= 4900 - 98

= 4802

Option D is the answer

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Answer 2

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