Ask Question
22 April, 18:55

Bob sold goods for $100 to a charge customer. The customer returned for credit $ 50 worth of goods. Terms of the sale were 3 /10, n/30. If the customer pays the amount owed within the discount period, what is the amount the customer should pay?

+3
Answers (1)
  1. 22 April, 20:29
    0
    The customer should pay $48.5

    Explanation:

    Terms of sale 3/10, n/30 means there is a discount of 3% is available on payment of due amount within discount period of 10 days after sale with net credit period of 30 days.

    As per given data

    Sale = $100

    Sales return = $50

    Receivable = $100 - $50 = $50

    As the payment is made within discount period, so discount will be availed on the amount due

    Discount = $50 x 3% = $15

    Payment by Customer = $50 - $1.5 = $48.5
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Bob sold goods for $100 to a charge customer. The customer returned for credit $ 50 worth of goods. Terms of the sale were 3 /10, n/30. If ...” 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