Company received invoice with terms 5/20 R.O.G. for the terms listed below. 90 teak trays at...

Company received invoice with terms 5/20 R.O.G. for the terms listed below.

90 teak trays at $31.90 each
25 teak buckets at $61.40 each
35 teak salad bowls at $57.90 each

All items are subject to trade discounts of 94/3%, 11/2%, and 6%.

a) if shipment was received on Sept 28, what is last day of discount period?

b) what is the amount due if invoice is paid on full on Oct 13?

c) if only partial payment is made on last day of discount period, what amount is needed to reduce the outstanding balance to $2200?

Expert Solution

Calculations:

jeff jeffy answered 2 years ago

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