Question

Spring Appliances received an invoice dated June 16 with terms 2/10 E.O.M. for the items listed below. 6 refrigerators at $1000 each less 20% and 4% 4 dishwashers at $799 each less 16,5 %, 12.5%, and 5% (a) What is the last day for taking the cash discount? (b) What is the amount due if the invoice is paid on the last day for taking the discount? (c) What is the amount of the cash discount if a partial payment is made such that a balance of $1900 remains outstanding on the invoice? (a) The last day for taking the cash discount is (Type a whole number) (b) The amount due iss (Round to the nearest cent as needed.) (c) The cash discount is $ (Round to the nearest cent as needed.) urd .ess

Answer 1

Ans Given invoice dated on June 16 with term 2 EOM 6 Befrigerators tops at $1000 cach les 20% 64% &a refrigerators at $799 each less 16,1%, 12.5% of 5010 @ 2 FOM means cash discount is 2% 10 & due amount paid within 10 days. 10th day from June 16 is June 25 The foo taking discount is June (25) (6 amount due of invore is paid on kan discount we have series of discounts 6x1000 = 6000 6000*0.80 => 6000* (9-20%) 4800 the last day day for for taking Refrigerator -> 4800 X (1-40%) = 4800 *0.96 = 4608 Dishwashers = 4*199 = 3196 >) 3196*(1 - 16406) 3196*0-836667 = 2073 9866668

* 2673.9866668*(1-12.5010) = 2673.9366468 *37.5) 2339.73 83334 => 2339.73 8334 *(1-5%) 5222 275/4468 Actual amount clue= Refrigerator + Dish washer = 4608 + 2222.751468 6830-7514468 total amount due if discount is availed 6830.7514–168* 11-2%) = $6694.1363885 -6694.10 (rounding to paper amount due =(Refrigesortes Refrigerates + dishwashey) – outs tooting = 683007514168 – 1900 4930.751446 4930-75 (after rounding) cent) © actual

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