Python Company sells merchandise on account for $5000 to Monte Company with credit terms of 2/10 n/30. Monte Company returns $1500 of merchandise that was damaged along with a check to settle the account within the discount period. What is the amount of the check?
A) $3430
B) $4000
C) $4900
D) $4430

Question

Quizplus · Accepted Answer

The original sale was $5000, with $1500 returned, leaving $3500. A 2% discount on $3500 is $70, so the check amount is $3500 - $70 = $3430.

Python Company Sells Merchandise on Account for $5000 to Monte