Frigart Company sold goods for $1,000 with terms 2/10,n/30.How much would Frigart receive if the account were paid within the discount period?

Name: Frigart Company sold goods for $1,000 with terms 2/10,n/30.How much would Frigart receive if the account were paid within the discount period?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Frigart Company offered a 2% discount for payment within 10 days. The discount on $1,000 is $20 (2% of $1,000), so the amount received would be $1,000 - $20 = $980.

Frigart Company Sold Goods for $1,000 with Terms 2/10,n/30