Based on the following information,what would be recorded as purchases discount if the invoice is paid within the discount period?

Name: Based on the following information,what would be recorded as purchases discount if the invoice is paid within the discount period?
Brand: Quizplus
Rating: 4.8 (56 reviews)

Question

Quizplus · Accepted Answer

The discount amount is calculated as 3% of the invoice amount, which is $1000. So, the discount amount would be $30 if the invoice is paid within the discount period. Therefore, option B is the correct answer.

Based on the Following Information,what Would Be Recorded as Purchases