B & J Lumber Restoration purchased merchandise inventory of $53,000. If B and J returned merchandise inventory of $14,000 and was able to take a discount of 3%, what is the total amount owed?

Question

Quizplus · Accepted Answer

The total amount owed is calculated by subtracting the returned merchandise from the initial purchase and then applying the discount. So, $53,000 - $14,000 = $39,000. Then, apply the 3% discount: $39,000 * 0.03 = $1,170. Finally, subtract the discount from the adjusted purchase: $39,000 - $1,170 = $37,830.

B & J Lumber Restoration Purchased Merchandise Inventory of $53,000