Concord Corporation sells merchandise on account for $6300 to Windsor, Inc. with credit terms of 2/10, n/30. Windsor, Inc. returns $1500 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check? $6174

$4800

$4704

$6204

$4704

Explanation:

The term 2/10, n/30 means that the buyer will get a 2% discount on the invoice amount if they make full payment with the first 10 days from the invoice date. If not, the full invoice amount is due in 30 days.

The buyer bought goods worth $6300 but made returns of $1500. the net purchases were

=$6300 - $ 1500

=$4,800

If the payment is made within  the discount period(10 days), the check amount will be less 2% discount.

i.e. the payment will be 98% of net purchases

=98/100 x $4800

=0.98 x $4800

=$4,704

commercial banking

provide online payment services

provide online banking

asset management firms

invest in people's funds in securities

accept tax return refunds

these are the four factors that influence enterpreneurship development

1. economic development

2. culture

3.technological development

4. education