Multiple Choice
The money you earn hourly for your time and effort at work is called your:
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4. Merchandising Operations
Net Sales
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K pays on a $20,000 sale. If the company allows a 2% sales discount for early payment and K pays within the discount period, what amount should be recorded as net sales revenue?
A
$19,600
B
$18,000
C
$20,000
D
$20,400
Verified step by step guidance1
Identify the total sales amount, which is $20,000 in this case.
Determine the sales discount percentage offered for early payment, which is 2%.
Calculate the discount amount by multiplying the total sales amount by the discount percentage: .
Subtract the discount amount from the total sales amount to determine the net sales revenue: .
Record the resulting net sales revenue as the amount received from the customer after applying the discount.
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