On June 1, 2014, Penny Corp

question 82

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.

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Definitions:

Bad Decisions

Choices that result in undesired outcomes or negative consequences, often due to poor judgment or lack of foresight.

Aggressive Style

A communication or behavioral approach characterized by assertiveness and directness, often prioritizing one's own needs or goals over others'.

Agent Of Change

An individual or entity that acts as a catalyst for transformation within a group, organization, or society, driving progress and innovation.

Policies

Formal guidelines or rules established by organizations or governments to govern behavior, procedures, and decision-making.