Answered: You buy goods at a list price of…

You buy goods at a list price of $1,100. If you receive a trade discount of 30% and terms are “2/15, n/45,” what amount must you pay if you pay within the discount period?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 13Q: If a customer purchased merchandise in the amount of $340, terms 3/10, n/30, returned $70 of the...

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You buy goods at a list price of $1,100. If you receive a trade discount of 30% and terms are “2/15, n/45,” what amount must you pay if you pay within the discount period?

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