Birk Company sells merchandise on account for $3,000 to Kiner Company with credit terms of 2/10, n/30.Kiner Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period.What is the amount of the check?

Question

Quizplus · Accepted Answer

The original sale was $3,000, with a $600 return, leaving $2,400. The 2% discount on $2,400 is $48, so the check amount is $2,352 ($2,400 - $48).

Birk Company Sells Merchandise on Account for $3,000 to Kiner