The amount of cash received for a sale on account of $1,080.00 when the cash is received within the 2% discount period is

Name: The amount of cash received for a sale on account of $1,080.00 when the cash is received within the 2% discount period is
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The correct amount is $1,058.40, calculated by applying the 2% discount to the original amount of $1,080.00. The discount amount is $1,080.00 * 2% = $21.60. Therefore, the cash received is $1,080.00 - $21.60 = $1,058.40.

The Amount of Cash Received for a Sale on Account