A company makes a credit sale of $750 on June 13, terms 2/10, n/30, on which it grants a return of$50 on June 16. The amount received as payment in full on June 23 is: - IQ786

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A company makes a credit sale of $750 on June 13, terms 2/10, n/30, on which it grants a return of$50 on June 16. The amount received as payment in full on June 23 is:

A company makes a credit sale of $750 on June 13, terms 2/10, n/30, on which it grants a return of$50 on June 16. The amount received as payment in full on June 23 is:

$650

$685

$686

$700

Explanation

Credit sale of $750

Terms 2/10, net/30

$50 is granted on June 16

= (750-50)x 0.98

= 700 x 0.98

= 686