A Credit Sale of $700 Is Made on July 15

question 131

Multiple Choice

A credit sale of $700 is made on July 15, terms 2/10, net/30, on which a return of $50 is granted on July 18. What amount is received as payment in full on July 24?

• A) $700
• B) $637
• C) $650 d $686

---

Definitions:

Declaration of Independence

A historic document adopted on July 4, 1776, by the Continental Congress, declaring the thirteen American colonies independent from British rule.

"We the People"

The opening words of the preamble to the United States Constitution, symbolizing the idea of a government created and sustained by its citizens.

Southern States

A regional designation in the United States referring to states that are located in the southeastern and south-central parts of the country, each with its unique cultural, historical, and socio-political characteristics.

Secede

The act of formally withdrawing from an organization, alliance, or especially a political entity such as a country or union, often to express dissent or seek autonomy.