Please explain how you got your answer too! Holt Company sells merchandise on ac
ID: 2379624 • Letter: P
Question
Please explain how you got your answer too! Holt Company sells merchandise on account for $1,500 to Jones Company with credit terms of 2/10,n/30. Jones Company returns $300 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check? Question 8 options: $1,470. $1,176. $1,476. $1,200.Please explain how you got your answer too! Holt Company sells merchandise on account for $1,500 to Jones Company with credit terms of 2/10,n/30. Jones Company returns $300 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check? Question 8 options: $1,470. $1,176. $1,476. $1,200.
Please explain how you got your answer too! Holt Company sells merchandise on account for $1,500 to Jones Company with credit terms of 2/10,n/30. Jones Company returns $300 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check? Holt Company sells merchandise on account for $1,500 to Jones Company with credit terms of 2/10,n/30. Jones Company returns $300 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check? $1,470. $1,176. $1,476. $1,200.
$1,470. $1,176. $1,476. $1,200.
$1,470. $1,176. $1,476. $1,200.
Explanation / Answer
After the return, Edd's company owes Ball Co. $1,200
Since they are paying within the discount period, Edd's can take 2% off the amount owed.
( $1,200 x 0.02) = $ 24
The check to settle the bill is in the amount of ( $ 1,200 - $ 24 ) = $ 1,176