Birk Company Sells Merchandise on Account for $5,000 to Kiner

question 207

Multiple Choice

Birk Company sells merchandise on account for $5,000 to Kiner Company with credit terms of 2/10, n/30. Kiner Company returns $1,000 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check?

• A) $4,900
• B) $4,920
• C) $4,000
• D) $3,920

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Definitions:

Hearing Loss

The partial or total inability to hear sounds in one or both ears.

Jaeger System

A chart used for testing visual acuity, especially for reading and near vision.

Visual Acuity

Visual acuity or the precision in seeing, often assessed by the capacity to recognize letters or numbers at a given distance.

Snellen Chart

A chart commonly used to measure visual acuity that consists of letters of progressively smaller size, used during eye examinations.