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Camilo Arenas
on Nov 15, 2024

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John bought goods for $390 on credit. John returned $30 worth of goods. Terms of the sale were 5/10, n/30. If John pays the amount owed within the discount period, what is the amount they should pay? (Round intermediary and final calculations to the nearest whole dollar.)

A) $390
B) $378
C) $342
D) $360

Discount Period

The Discount Period refers to a specific timeframe during which a buyer can pay less than the full invoice amount as an incentive for early payment.

Credit Terms

Conditions under which credit is extended by a seller to a buyer, including payment period, discount for early payment, and late penalty.

  • Master the concept and mathematical operations for calculating discounts on items bought.
  • Compute the payables and payment amounts within discount periods.
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JC
Jacob CooperNov 16, 2024
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