Question

Z-Mart purchased $3,000 worth of merchandise on credit. Transportation costs were an additional $100, paid cash to the cartage company on delivery. Z-Mart returned $300 worth of merchandise and paid the invoice on time, and took a 2% purchase discount. The amount of this payment was ______.

Answer 1

Answer:

Z-Mart purchased $3,000 worth of merchandise on credit. Transportation costs were an additional $100, paid cash to the cartage company on delivery. Z-Mart returned $300 worth of merchandise and paid the invoice on time, and took a 2% purchase discount. The amount of this payment was $2744

Explanation:

Purchases excluding freight  $3,000

Less:Goods returned           -$300

Add:freight charges           $100

Net Purchases                 $2,800

Less:Discount on payment($2,800*2%)  -$56

Net cash paid                         $2,844