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    solaiman's Avatar
    solaiman Posts: 2, Reputation: 1
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    #1

    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 $50is gr
    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's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    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.

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