Grout,Inc.offers terms of 2/10,n/30 to credit customers.Tile Mart Corp.purchased 100 tile cutters with a list price of $20 each on March 5,2014,on account. Tile Mart Corp.paid the invoice on March 31,2014.How much sales discount will Grout recognize?

Question

Quizplus · Accepted Answer

Tile Mart Corp. paid the invoice after the discount period (March 31, beyond 10 days from March 5), so no sales discount is recognized.

Grout,IncOffers Terms of 2/10,n/30 to Credit Customers