For a $100,000 trade payable with terms of 2/10,net 45,how much would be reported as "purchase discount lost" under the gross method if a payment was made after 60 days?
A)$0
B)$2,000
C)$4,500
D)$10,000

Name: For a $100,000 trade payable with terms of 2/10,net 45,how much would be reported as "purchase discount lost" under the gross method if a payment was made after 60 days? A)$0 B)$2,000 C)$4,500 D)$10,000
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Question

Quizplus · Accepted Answer

The gross method does not recognize purchase discounts lost.

For a $100,000 Trade Payable with Terms of 2/10,net 45,how