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A company using the perpetual inventory system purchased inventory worth $20,000 on account with terms of 3/10, n/30. Defective inventory of $2000 was returned two days later, and the accounts were appropriately adjusted. If the invoice is paid 10 days after the invoice date, the amount of the purchase discount that would be available to the company is ________.

Respuesta :

Answer:

The correct solution is "360".

Explanation:

The given values are:

Purchased inventory

= $20,000

Returns

= $2000

So,

The claimed discount will be:

= Purchased inventory - Returns

= [tex]20000-2000[/tex]

= [tex]18000[/tex]

Now,

The discount will be:

= [tex]2 \ percent\times 18000[/tex]

= [tex]360[/tex]

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