If the collection occurs within 18 days, then jake co. will recognize $0 discount on the merchandise. Option C is correct that is $0.
By paying a charge or fee, a debtor might purchase the right to postpone payments to a creditor for a predetermined length of time through the financial mechanism known as discounting.
Payment Term 1/15 n/45 denotes a net credit term of 45 days and a 1% discount for the business if the money is paid within 15 days of the due date. Therefore, if the corporation pays the sum after 15 days, it will not receive a discount and shouldn't record receiving one.
If it had been paid in the allotted 15 days, the business might have recorded a $900 discount. As a result, the corporation would not receive a discount because the money was paid within 18 days, and it should not be recorded.
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