On June 1, Lulu's Performing Arts School purchased merchandise with a list price of $6,000 from Monty's Inc. with credit terms 2/10, n/30. On June 3, Lulu's returns $800 of the merchandise. Compute the amount owed by Lulu's if the store pays within the discount period.
What will be an ideal response?
| List Price: | $ 6,000 |
| Less purchase return | (800) |
| Difference | 5,200 |
| Less discount ($5,200 x 2%) | (104) |
| Amount paid: | $5,096 |
Business
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