USA Purchase Discounts


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Im not asking for someone to answer the question for me, rather, how do I come about the answer myself?

The question is..

A company makes all purchases on credit and the supplier offers a 3% purchase discount, is the companies cash management system taking advantage of all the discount opportunities?

http://imgur.com/WWMiDcM

^ that is the given information. Like I said I dont want anyone answering my homework for me, just guidance on finding the answer. Thank you for help!
 
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Becky

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Welcome to the forum! Your post went into the moderation queue because of the link, but I have approved it now :)
 
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Does all of the merchandise come from the same supplier? Does the 3% apply to all of the merchandise purchased? Are there any conditions where this 3% discount might not apply or would have to be returned?

If so, then: Take the total dollar amount of merchandise purchases and multiply it by 0.03 (%). This amount is the highest possible discount you can receive. Then see if it is higher or lower than the actual purchase discounts received.
 

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