When a customer purchases merchandise inventory from a business organization, she may be given a discount which is designed to induce prompt payment. Such a discount is called a(n)

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12-07-2022
Business

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When a customer purchases merchandise inventory from a business organization, she may be given a discount which is designed to induce prompt payment. Such a discount is called a(n)

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shivanijain4931 shivanijain4931 · Answer 1 · 2022-07-21T16:04:56+02:00

a customer purchases merchandise inventory from a business organization, she may be given a cash discount.

A trade discount is a deduction from the list price of an item offered to a customer by a trader at an agreed rate. In contrast, a cash discount is a rebate given to a customer if he or she pays cash for an item purchased within a specified time period.

To calculate the cash discount, the formula uses the price and rate. The formula is: Discount = purchase price x discount rate. For example, if the product is priced at $ 200 and the discount rate is 10%, the discount will be $ 20. That means consumers can save $ 20.

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