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In: Accounting

a company sells merchandise to a customer for $1000 with terms 2/10.n/30 on january 1. what...

a company sells merchandise to a customer for $1000 with terms 2/10.n/30 on january 1. what amount of cash will the merchandiser receive if the customer pay within the discount period?

Solutions

Expert Solution

As the customer pays within the discount period, he is eligible for 2% sales discount

Amount of cash to be received

= 1000 - (1000*2%)

= 1000 - 20

= 980

ekkarill92 answered 2 years ago
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