Homework Answers
b.
Net purchase = Cost of goods purchased - Cost of goods
returned
= 3,450 - 950
= $2,500
Discount amount = Net purchase x Discount percentage
= 2,500 x 2/100
= $50
Cash payment to be made = Net purchase - Discount amount +
Freight
= 2,500 – 50 + 400
= $2,850
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