A company purchased $6,000 of merchandise. Transportation costs were an additional $100. The company later returned...
A company purchased $6,000 of merchandise. Transportation costs were an additional $100. The company later returned $250 of the merchandise and paid the invoice within the 2% discount period. What is the total amount of cash paid?
Multiple Choice
-
$5,730
-
$6,100
-
$5,735
-
$5,733
Homework Answers
Net Sales = 6,000 - returns 250 = 5750
Total amount of cash paid
= (Net sales - sales discount) + transportation
= (5750-2%) + 100
= 5635 + 100
= 5735
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