Simmons sold merchandise to drake for $5,000 with payment terms of 2/10, n/30. two days later, drake returned two of the units and received account credit in the amount of $2,000. if drake pays his account in full within ten days of the invoice date, what is the amount of the sales discount?

the discount is for 60 dollars

therefore Simmons will pay 2,940 dollar for the inventory

Explanation:

From the invoice nominal we should remove the returned goods.

nominal  5,000

returns   2,000

balance: 3,000

commercial terms: 2/10 the discount is 2% if paid within 10 days

3,000 x 2% = 60 dollars

net cash disbursements: 3,000 - 60 = 2,940 dollars

it should be

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