Answer:
$2,450 is received as payment in full on July 24
Explanation:
Terms 2/10, n/30 means that there is a discount of 2% available if the payment is made within 10 days of sale with credit period of 30 days. Discount will only be given on the amount of payment which will be net of sales and return.
Credit Sale = $2,700
Sale Return = $200
Net Receivable = $2,700 - $200 = $2,500
Payment is made within the discount period, so the the discount will be availed on the due amount.
Discount = 2,500 x 2% = 50
Payment Receipt = $2,500 - $50 = $2,450
