Banks Company sold merchandise on account for $40,000 with terms 2/10, n/30. The cost of goods...

 

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Banks Company sold merchandise on account for $40,000 with terms 2/10, n/30. The cost of goods sold was $27,600. If the invoice is paid within the discount period, what is the amount of cash received by Banks Company? Banks Company sold merchandise on account for $40,000 with terms 2/10, n/30. The cost of goods sold was $27,600. If the invoice is paid within the discount period, what is the amount of cash received by Banks Company?

Answer rating: 100% (QA)

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