On March 7, Solaris Company sells $3,000 of merchandise on account to Bebb Company with credit terms of 2/10, n/30. If Bebb remits a check on March 16, what is the amount of the check?

Question

Quizplus · Accepted Answer

Bebb Company is eligible for a 2% discount because they are paying within 10 days. The discount is 2% of $3,000, which is $60. Therefore, the amount of the check is $3,000 - $60 = $2,940.

On March 7, Solaris Company Sells $3,000 of Merchandise on Account