FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Bennett Supplies has received an invoice totaling
$50,000 with payment terms of 3/10, net 45. This
means the buyer can avail a 3% discount if the
invoice is paid within 10 days; otherwise, the full
amount is due in 45 days. How much does the buyer
save if the bill is paid within the discount period?
a. $0
b. $1,500
c. $2,000
d. $2,500
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Transcribed Image Text:Bennett Supplies has received an invoice totaling $50,000 with payment terms of 3/10, net 45. This means the buyer can avail a 3% discount if the invoice is paid within 10 days; otherwise, the full amount is due in 45 days. How much does the buyer save if the bill is paid within the discount period? a. $0 b. $1,500 c. $2,000 d. $2,500
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