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18 September, 06:28

Bramble Corp. sells $1800 of merchandise on account to Flounder Company with credit terms of 2/12, n/30. If Flounder Company remits a check taking advantage of the discount offered, what is the amount of Flounder Company's check

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  1. 18 September, 06:51
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    The amount of Flounder check would be $ 6,964

    Explanation:

    The amount of the check would be the selling amount deduct the discount amount (which came from the selling amount of discount percentage).

    The amount of Flounder check is computed as:

    Amount = Selling amount * Percentage

    where

    Selling amount is $1,800

    Percentage is as:

    Percentage = 100% - Discount

    where

    Discount is 2%

    So,

    Percentage = 100% - 2%

    = 98%

    Putting the values above:

    Amount = $1,800 * 98%

    Amount = $6,964
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