Asked Nov 5, 2019
A sales invoice included the following information: merchandise price, $8,000; terms 2/10, n/eom. Assuming that a credit for merchandise returned of $1,000 is granted prior to payment, and that the invoice is paid within the discount period, what is the amount of cash received by the seller?

Expert Answer

Step 1

Formula to calculate cash received by the seller:

Cash received by seller = Merc...

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