A company purchased $2,900 of merchandise on July 5 with terms 1/10, n/30. On July 7, it returned $320 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: a.$320 b.$2,551. c.$2.554 d.$2,580

C) 2,554

Explanation:

When a company purchase a merchandise inventory on account, the journal entry to record the merchandise inventory is -

July 5  Merchandise Inventory   Debit   $2,900

Accounts payable           Credit   $2,900

After returning the merchandise of $320, the due amount = $(2,900 - 320) = $2,580

As the supplier sets the term as 1/10, n/30, it means if the buyer pays within 1 day, the purchaser will receive a 1% discount, but has to pay the amount within 30 days.

As the company pays the amount within 4 days of purchase (July 5 to July 8), the company will get the discount after the sales return.

Therefore, the company will pay cash = $2,580 - ($2,580 × 1%)

= $2,580 - 26

= $2,554

Therefore, option c is the correct answer.

answer: a. the kind of population living in your neighbourhood.

the census explorer data tool by the us census bureau allows the user to zoom in on any neighbourhood within the united states and find the kind of people residing in that by race and age.  

the tool needs to needs to be used twice – once in order to find what type of people reside in a neighbourhood, and then to see the age groups of the people in the same neighbourhood.