On March 12,Pierson Company sold goods that cost $3,500 to Colonade Company for $6,000 on credit.Terms of the sale were 1/10,n/30.Colonade paid the balance due on March 21.What amount of cash did Pierson receive?

Question

Quizplus · Accepted Answer

When payment is received within the discount period,the amount received is the sales price less the discount $5,940 (or $6,000 − $60).

On March 12,Pierson Company Sold Goods That Cost $3,500 to Colonade