[MissTonks]

Received cash from a customer for $2940 after allowing 2% cash discount.
What is the total amount receivable?

[MissTonks]

Somebody answer me quick.
Im having trouble with the calculation of total amount receivable and discounted amount.

[pready]

Simply take the amount received times 102 percent to get close to your accounts receivable amount. The amount will not be totally right so just round up to the even hundreds amount then you will have your answer for the total accounts receivable amount. The amount of discount will be your total accounts receivable amount minus 2%.