you contract with an upholsterer to renovate a piece of furniture. the bill is $2,000 2/10 net 30. how much…

you contract with an upholsterer to renovate a piece of furniture. the bill is $2,000 2/10 net 30. how much is the total bill if paid 15 days after the contract was signed? $?

you contract with an upholsterer to renovate a piece of furniture. the bill is $2,000 2/10 net 30. how much is the total bill if paid 15 days after the contract was signed? $?

Answer

Explanation:

Step1: Understand the payment - terms

The terms "2/10 net 30" mean a 2% discount if paid within 10 days, and the full amount is due within 30 days.

Step2: Determine the payment period

The payment is made 15 days after the contract was signed. Since 15 > 10, the discount does not apply.

Answer:

$2000