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14 February, 23:38

The list price on Boyton's catalog indicated that product A sells for $3,000, with a trade discount of 5%. Boyton sells the goods to a customer who qualifies for the trade discount. At what amount should Boyton record the sale and related account receivable

a. $3,150

b. $2,850

c. $3,000

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Answers (1)
  1. 15 February, 01:38
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    B) $2,850

    Explanation:

    1: Find the discount: $3,000*5% = $150

    2: Subtract the discount: $3,000 - $150 = $2,850
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