menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Financial Accounting Study Set 1
  4. Exam
    Exam 6: Merchandising Operations and the Multistep Income Statement
  5. Question
    XYZ Company Sold Merchandise for $5,000,with Payment Terms of 2/10,n/30
Solved

XYZ Company Sold Merchandise for $5,000,with Payment Terms of 2/10,n/30

Question 22

Question 22

Multiple Choice

XYZ Company sold merchandise for $5,000,with payment terms of 2/10,n/30.If the customer pays within the discount period and takes the discount,XYZ will receive:


A) $4,900.
B) $5,000.
C) $3,500.
D) $100.

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

Q18: When a company collects from a customer

Q19: The purchase of merchandise on account in

Q20: Which of the following is a correct

Q21: In a perpetual inventory system,paying transportation charges

Q23: A sale is recorded when goods leave

Q24: A company reported the following:

Q25: A company starts the period with 300

Q26: When a perpetual system is used and

Q27: Belmont Industries announces that its gross profit

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