An Invoice,with Payment Terms of 5/10,n/30,was Issued on April 28

question 29

Multiple Choice

An invoice,with payment terms of 5/10,n/30,was issued on April 28 for $250.00.If the payment was made on May 12,the amount of payment will be ________.(Round your answer to the nearest cent.)

• A) $250.00
• B) $225.00
• C) $237.50
• D) $245.00

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Definitions:

Current Period

Refers to the specific duration of time (usually a fiscal quarter or year) currently under consideration or analysis.

Net Realizable Value

The projected sales price of products subtracted by the expense of selling or disposing of them.

Inventory Account

An account on the balance sheet that reports the value of a company's inventory, consisting of products available for sale.