Ask Question
23 January, 07:49

Hunter's paradise sells merchandize on account to outdoor haven for $3,280, terms 2/10, n/30. what should the journal entry be to record this transaction for hunter's paradise?

+1
Answers (1)
  1. 23 January, 11:12
    0
    These are payment terms in the accounting. The first term 2/10 means that if you can pay the amount after 10 days, you would be given a 2% discount. If not, that's what the second terms means. This means you have to pay the net or full amount within 30 days.

    So, if he can pay within 10 days, he will only have to give $3214.4. If not, then he would have to pay $3280 within 30 days.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Hunter's paradise sells merchandize on account to outdoor haven for $3,280, terms 2/10, n/30. what should the journal entry be to record ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers