Acompany purchased $10,100 of merchandise on june 15 with terms of 2/10, n/45, and fob shipping point. the freight charge, $550, was added to the invoice amount. on june 20, it returned $880 of that merchandise. on june 24, it paid the balance owed for the merchandise taking any discount it is entitled to. the cash paid on june 24 equals:

$9,586

Explanation:

The computation of the cash paid is shown below:

= Merchandise amount - returned goods - discount + freight charges

= $10,100 - $880 - $184.40 + $550

= $9,586

The discount = (Merchandise amount - returned goods) × discount rate

= ($10,100 - $880) × 2%

= $184.40

Simply we deduct the returned goods and discount and added the freight charges to the merchandise amount so that the correct amount can come.

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.