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23 April, 04:23

A company purchased $3,600 worth of merchandise. transportation costs were an additional $315. the company later returned $250 worth of merchandise and paid the invoice within the 3% cash discount period. the total amount paid for this merchandise is:

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  1. 23 April, 05:00
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    Answer: $3,564.50

    Explanation:

    The total amount that the company will pay for the merchandise is the net cost of the merchandise, less a 3% cash discount, plus the transportation costs. The cash discount normally only applies to the merchandise and not the transportation costs.

    The cost of the merchandise is $3,600 less the $250 refund, which equals $3,350. With a 3% cash discount they will pay 97% of this amount, which is $3,249.50. After adding the additional transportation charge of $315, the total amount to be paid is $3,564.50.
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