A company purchased $9,000 of merchandise on June 15 with terms of 3/10, n/45. O

Question

A company purchased $9,000 of merchandise on June 15 with terms of 3/10, n/45. On June 20, it returned $450 of that merchandise. On June 24, it paid the balance owed for the merchandise taking any discount it was entitled to. The cash paid on June 24 equals:

A company purchased $9,000 of merchandise on June 15 with terms of 3/10, n/45. On June 20, it returned $450 of that merchandise. On June 24, it paid the balance owed for the merchandise taking any discount it was entitled to. The cash paid on June 24 equals:

Explanation / Answer

Cah paid 8293.5   

date particulars amount in $ 15th June Merchandise purchase 9,000 :Less: 20th june Returns 450 remaining purchases 8,550 24th June less: discount 3% paid with in 10 days $8,550*.3% 256.5

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