Answer
b
Work Step by Step
After the return, the amount of the sale is \$700.
Since the invoice was paid in 10 days, the terms allow a 2% discount.
The amount paid is $700\times0.98=686$.
Accounting: Tools for Business Decision Making, 5th Edition
by Kimmel, Paul D.; Weygandt, Jerry J.; Kieso, Donald E.
Published by
Wiley
ISBN 10:
1118128168
ISBN 13:
978-1-11812-816-9
Chapter 5 - Merchandising Operations and the Multiple-Step Income Statement - Self-Test Questions - Page 258: 4
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