Acompany using the perpetual inventory system purchased inventory worth $ 22 comma 000 on account with terms of 2/10, n/30. defective inventory of $ 1 comma 000 was returned two days later, and the accounts were appropriately adjusted. if the invoice is paid 10 days after the invoice date, the amount of the purchase discount that would be available to the company is

Discount = $420

Explanation:

Inventory purchased = $22000

Defective inventory = $ 1000

to find out

amount of the purchase discount that would be available to the company is

solution

we know Inventory purchased = $22000

and return is $1000

so Net Purchases = $22000  - $1000

Net Purchases = $21000

so

discount claim for $21000  is 2%

Discount = 2% of $21000

Discount = $420

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