Asked by
Camilo Arenas
on Nov 15, 2024Verified
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.
Verified Answer
JC
Learning Objectives
- Master the concept and mathematical operations for calculating discounts on items bought.
- Compute the payables and payment amounts within discount periods.