A Retailer Purchases Merchandise with a Catalog List Price of $25,000

question 148

Multiple Choice

A retailer purchases merchandise with a catalog list price of $25,000. The retailer receives a 30% trade discount and credit terms of 2/10, n/30. What amount should the retailer debit to the Merchandise Inventory account?

• A) $7,500
• B) $17,500
• C) $25,000
• D) $17,250

---

Definitions:

Popular Myths

Widely held but false beliefs or ideas that are part of a culture's stories and traditions.

Prostitution

The practice or occupation of engaging in sexual activity with someone for payment.

Highest Status

The top position in a hierarchical social, professional, or other ranking system, signifying the greatest level of power, prestige, or respect.

Call Girl

A sex worker who arranges appointments with clients, typically via telephone, and may provide outcall services.