menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Fundamentals of Financial Accounting
  4. Exam
    Exam 6: Internal Control and Financial Reporting for Cash and Merchandising Operations
  5. Question
    If a Merchandiser Offers a Sales Discount of 2/10,net/30 on a Sale
Solved

If a Merchandiser Offers a Sales Discount of 2/10,net/30 on a Sale

Question 153

Question 153

True/False

If a merchandiser offers a sales discount of 2/10,net/30 on a sale of $1,000,the amount due in 30 days is the net amount of $980.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q17: When goods are sold to a customer

Q23: A sale is recorded when goods leave

Q124: If merchandise costing $500 is sold on

Q146: The journal entry to record taking a

Q148: Flynn Company uses a perpetual inventory system

Q150: Choose the appropriate letter to match the

Q151: Inventory reports the:<br>A) cost of goods available

Q154: The following is a listing of some

Q157: Companies using a perpetual inventory system:<br>A) never

Q158: Which line item would be found on

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines