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A buyer of $8,500 in merchandise inventory failed to take advantage of the vendor's credit terms of 3/15, n/45, and instead paid the invoice in full at the end of 45 days. By not taking advantage of the cash discount, the buyer lost the discount of:

Respuesta :

Answer:

$255

Explanation:

The computation of the discount lost is shown below:

= Value of merchandise inventory × discount percentage given

= $8,500 × 3%

= $255

Since 3/15, n/45 means if the customer pays the amount within 15 days he or she can avail the discount of 3% and the total days for payment is 45 days. So, the buyer lost the $255 discount

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