Asked by Ja'Nayla Watts on Jul 01, 2024
Verified
You just purchased $8,700 of goods from your supplier with credit terms of 3/10, net 30. What is the discounted price?
A) $6,090
B) $6,960
C) $7,830
D) $8,439
E) $8,911
Discounted Price
Discounted Price refers to a price that has been reduced from the original or listed cost, often to accelerate sale or clearance or as part of promotional offers.
Credit Terms
Credit terms are the payment conditions imposed by suppliers on customers, including the amount of time allowed to pay off the amount due.
Goods
Tangible items that are produced or manufactured for sale to consumers or other businesses.
- Understand the impact of trade credit terms on payment amounts and timing.
Verified Answer
KM
khanyie mkhahJul 08, 2024
Final Answer :
D
Explanation :
The discounted price can be calculated by applying the discount to the total amount. The credit terms of 3/10, net 30 mean you get a 3% discount if you pay within 10 days. Thus, the discounted price is $8,700 - ($8,700 * 0.03) = $8,700 - $261 = $8,439.
Learning Objectives
- Understand the impact of trade credit terms on payment amounts and timing.