Assume the following data concerning a purchase of merchandise by Icon Co. on April 2:

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April 2.	Purchased $4,000 of merchandise on account from Gamma Co., terms 2/10, n/30.
4.	Returned $2,000 of the merchandise purchased on April 2.
12.	Paid for the purchase of April 2 less the return and discount.

The purchase amount that Icon Co. would record on April 2 = 4000*(1-0.02) = 3920
Option 2 is correct

It is assumed that net method is used for recording purchases

Assume the following data concerning a purchase of merchandise by Icon Co. on April 2:

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