A company purchases merchandise with a catalog price of $24,500. The company receives a 35% trade discount from the seller. The seller also offers credit terms of 2/10, n/30. Assuming no returns were made and that payment was made within the discount period, what is the net cost of the merchandise

$ 15606.5

Explanation:

Catalog Price = $ 24500

Trade Discount = 35 %

Credit Term 2/10, n/30

Purchase Price = $ 24500- $ 24500 * 35 %=   $ 24500-8575= 15925

As Payment is made with in the discount period( 2/10 n/30  meaning 2 % of discount will be given in the first ten days) an additional discount of

15925 * 2 % = 318.5 will be given

Net Cost would be $ 15925- $ 318.5= $ 15606.5

If the payment had been made after the first ten days the 2% discount would have not been allowed

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