Frigart Company sold goods for $13,000 with terms 2/10, n/30. How much would Frigart receive if the account were paid within the discount period?

Name: Frigart Company sold goods for $13,000 with terms 2/10, n/30. How much would Frigart receive if the account were paid within the discount period?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The discount terms 2/10 mean a 2% discount is available if paid within 10 days. 2% of $13,000 is $260, so the amount received would be $13,000 - $260 = $12,740.

Frigart Company Sold Goods for $13,000 with Terms 2/10, N/30