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View Full Version : A credit sales os $750 is made on June 13,terms2/7,n/30,on which a return of $50is gr


solaiman
Aug 11, 2010, 10:42 PM
A credit sales os $750 is made on June 13,terms2/7,n/30,on which a return of $50 is granted on 16 June.the customerpaid the amount owing on 17 June.what amount did yhe customer pay?

pready
Aug 24, 2010, 01:01 PM
($750 - 50) * 2% because the customer returned $50 of merchandise and paid the remainder of the bill within the discount period.

2/7,n/30 means there is a 2% discount if the bill is paid within 7 days and the bill is due within 30 days.