You receive an invoice for $17,400 with terms of 3/15, n/60. The supplier has a policy of allowing a cash discount for partial payments and you pay $8,000 within the discount period.  Calculate the amount of credit you will receive for this payment.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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You receive an invoice for $17,400 with terms of 3/15, n/60. The supplier has a policy of allowing a cash discount for partial payments and you pay $8,000 within the discount period.  Calculate the amount of credit you will receive for this payment.

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Thank you for your response, the options I have are quite different from your answer.

$8,000

$17,400

$8,240

$8,247.42 

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