Answer:
The amount of check should have been $4,165
Explanation:
4/10, 2/30, n/60 term means there is a discount of 4% and 2 % available on the payment made withing 10 days and 30 days respectively with net credit period of 60 days. The invoice is made on 15 October and the authority sent the payment on October 28 after 10 days and within 30 days. Now the Payment is eligible for the discount of 2%. The amount of check should have been $4,165
Sales Amount = 50 x $85 = $4,250
Discount available = $4,250 x 2% = $85
Amount of Check = $4,250 - $85 = $4,165
