If Bounder Dog Supplies,Inc purchased inventory at $2,200 list price and the terms were 3/10 n/30,what would be the value associated with the inventory if payment was made within 10 days?

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Quizplus · Accepted Answer

The value associated with the inventory would be $2,134 because Bounder Dog Supplies, Inc. would take advantage of a 3% discount for paying within 10 days. The discount would be $2,200 * 0.03 = $66, so the payment would be $2,200 - $66 = $2,134.

If Bounder Dog Supplies,Inc Purchased Inventory at $2,200 List Price