Compute the amount to be paid for each of the four separate invoices assuming that all...

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Compute the amount to be paid for each of the four separate invoices assuming that all invoices are paid within the discount

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Answer 1

Answer #1

Answer to Part a.
Merchandise (Gross) = $6,400
Terms = 2/10, n/ 60
Discount = $6,400 * 2%
Discount = $128

Payment = Merchandise (Gross) - Discount
Payment = $6,400 - $128
Payment = $6,272

Answer to Part b.
Merchandise (Gross) = $22,100
Terms = 1/15, EOM
Discount = $22,100 * 1%
Discount = $221

Payment = Merchandise (Gross) - Discount
Payment = $22,100 - $221
Payment = $21,879

Answer to Part c.
Merchandise (Gross) = $77,800
Terms = 1/10, n/30
Discount = $77,800 * 1%
Discount = $778

Payment = Merchandise (Gross) - Discount
Payment = $77,800 - $778
Payment = $77,022

Answer to Part d.
Merchandise (Gross) = $13,500
Terms = 3/15, n /45
Discount = $13,500 * 3%
Discount = $405

Payment = Merchandise (Gross) - Discount
Payment = $13,500 - $405
Payment = $13,095

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Answer 2

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