On January 15, Nifty Company Sells Merchandise on Account to Martinez

question 249

Multiple Choice

On January 15, Nifty Company sells merchandise on account to Martinez Associates for $3,000 with terms 3/10, n/30. On January 20, Martinez returns merchandise worth $600 to Nifty. On January 24, payment is received from Martinez for the balance due. What is the amount of cash received?

• A) $2,400
• B) $2,328
• C) $2,310
• D) $1,680

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Definitions:

Spatial Updating

The processes by which individuals continually revise their mental representation of where things in the environment are with respect to their current location.

Demand Characteristics

Demand characteristics refer to the subtle cues or features in an experimental environment that may influence participants' behaviors or responses, thereby affecting the validity of the experiment.

Tversky

Amos Tversky, a cognitive and mathematical psychologist known for his work on decision-making and cognitive biases.

Method Of Loci

A mnemonic device that involves visualizing locations to organize and recall information.