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29 May, 05:03

A company makes a credit sale of $750 on June 13, terms 2/10, n/30, on which it grants a return of $50 on June 16. What amount is received as payment in full on June 23?

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  1. 29 May, 07:01
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    amount is received as payment in full on June 23 = $686

    Explanation:

    given data

    credit sale = $750

    terms = 2/10, n/30

    return = $50

    to find out

    amount is received as payment in full on June 23

    solution

    first we get here amount to be made as payment that is

    amount to be made as payment = $750 - $50

    amount to be made as payment = $700

    and there is a 2% discount when it paid in 10 days it will be = 2% of $700

    = $14

    so amount is received as payment in full on June 23 will be

    amount is received as payment in full on June 23 = $700 - $14

    amount is received as payment in full on June 23 = $686
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