Multiple Choice
On June 1, 2014, Penny Corp. sold merchandise with a list price of $50,000 to Linn on account. Penny allowed trade discounts of 30% and 20%. Credit terms were 2/15, n/40 and the sale was made F.o.b. shipping point. Penny prepaid $1,000 of delivery costs for Linn as an accommodation. On June 12, 2014, Penny received from Linn a remittance in full payment amounting to
A) $27,440.
B) $28,420.
C) $28,440.
D) $27,990.
Correct Answer:
Verified
Correct Answer:
Verified
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