On August 16,it paid the full amount due.The amount of the cash paid on August 16 equals:

A) $8,167.50.
B) $9,652.50.
C) $9,750.00.
D) $8,250.00.
E) $8,152.50.

Question

On August 16,it paid the full amount due.The amount of the cash paid on August 16 equals:A) $8,167.50.B) $9,652.50.C) $9,750.00.D) $8,250.00.E) $8,152.50.

Ariana Perez · Accepted Answer

Final Answer : A, Explanation :  The company will receive a discount of 1% ($9,750 x 1% = $97.50) if they pay within 10 days of the purchase. However, since they returned $1,500 worth of merchandise, their new total is $8,250 ($9,750 - $1,500). They will still receive the 1% discount on this new total, which would be $82.50 ($8,250 x 1% = $82.50). Therefore, the cash paid on August 16 would be the new total minus the discount: $8,250 - $82.50 = $8,167.50.

On August 16,it paid the full amount due.The amount of the cash paid on August 16 equals:

A) $8,167.50.
B) $9,652.50.
C) $9,750.00.
D) $8,250.00.
E) $8,152.50.

Definitions

Learning Objectives

Learning Objectives

Related questions