A Company Purchased $10,000 of Merchandise on June 15 with Terms

question 29

Multiple Choice

A company purchased $10,000 of merchandise on June 15 with terms of 3/10, n/45. On June 20, it returned $800 of that merchandise. On June 24, it paid the balance owed for the merchandise taking any discount it was entitled to. The cash paid on June 24 equals:

• A) $9,700.
• B) $9,800.
• C) $10,000.
• D) $8,724.
• E) $8,924.

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Definitions:

Individual Abilities

The skills and competencies unique to each person that influence their capacity to perform tasks.

Contingent Workers

Individuals employed on a non-permanent basis, such as freelancers, contractors, or temp agency workers, often used by companies to adjust more flexibly to workload fluctuations.

Implicit Contract

An unwritten and unspoken agreement between parties, often based on assumed understanding or expectations.

Unemployment Rate

The percentage of the labor force that is jobless and actively seeking employment.