Given the following information, compute the amount of cash finally remitted by the customer. Feb. 22-Sale on credit, terms of 2/10, n/30-$3,000
Feb) 27-Allowance granted due to some items being damaged-$400
Feb) 28-Payment in full received from customer-$?

Question

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The initial sale was for $3,000. An allowance of $400 was granted, reducing the amount owed to $2,600. The terms 2/10, n/30 allow for a 2% discount if paid within 10 days. The payment was made within this period, so the discount is 2% of $2,600, which is $52. Therefore, the final amount remitted is $2,600 - $52 = $2,548.

Given the Following Information, Compute the Amount of Cash Finally