Merchandise with a list price of $1,500.00 is purchased on account for $900.00 on August 1. Terms of sale are 2/10, n/30. Payment is made on August 17. The amount paid should be

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The terms 2/10, n/30 mean that a 2% discount is available if payment is made within 10 days; otherwise, the net (full) amount is due within 30 days. Since the payment was made on August 17, which is beyond the 10-day discount period, the full amount of $900.00 is due without any discount.

Merchandise with a List Price of $1,500