Question
Determine the amount to be paid within the discount period for purchase with an invoice price of $7,745, subject to credit terms of 2/10, n30. Explain how you reached your answer.
Answers
Anonymous
Santa Fe Company purchased merchandise for resale from Mesa Company with an invoice price of $16,000 and credit terms of 3/10, n/60.
The merchandise had cost Mesa $16,000.
The merchandise had cost Mesa $16,000.