CASH DISCOUNT 6. A manufacturer sends an invoice dated Nov. 1 with terms 2/10, n/30 in...

CASH DISCOUNT

6. A manufacturer sends an invoice dated Nov. 1 with terms 2/10, n/30 in the

amount of $950. If the invoice is paid on or before Nov. 11, what amount is

paid? If you don’t take advantage of the discount and the invoice is paid by

Dec. 1, what amount is paid?

Expert Solution

ekkarill92 answered 2 years ago

1. A company received an invoice for $3904.85 dated June 14 with terms 6/15, 2/30, n/60. ...

1. A company received an invoice for $3904.85 dated June 14 with terms 6/15, 2/30, n/60. (a) If the invoice is paid on June 20, how much is to be paid? Round the final answer to the nearest cent as needed. (b) If the invoice is paid on July 11, how much is to be paid? Round the final answer to the nearest cent as needed. (c) If the invoice is paid on August 10, how much is to be...

A company received an invoice for $1734.68 dated October 9 with terms 6/15, 2/30, n/60. (a)...

A company received an invoice for $1734.68 dated October 9 with terms 6/15, 2/30, n/60. (a) If the invoice is paid on October 20, how much is to be paid? (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) If the invoice is paid on November 6, how much is to be paid? (Round the final answer to the nearest cent as needed. Round all intermediate values to...

A company received an invoice for $3904.85 dated June 14 with terms 6/15, 2/30, n/60. (a)...

A company received an invoice for $3904.85 dated June 14 with terms 6/15, 2/30, n/60. (a) If the invoice is paid on June 20, how much is to be paid? (b) If the invoice is paid on July 11, how much is to be paid? (c) If the invoice is paid on August 10, how much is to be paid?

The Scientific Store received an invoice for $6710.00 dated July 13, terms 5/10, 2/30, n/90, for...

The Scientific Store received an invoice for $6710.00 dated July 13, terms 5/10, 2/30, n/90, for a shipment of skis. Calculate the partial payments made 20 July to reduce the balance to $4000.00 Round to nearest 100th. Written please.

An invoice for $2100, dated February 2, has terms 2/15, 1/30, n/90. If a $670 payment...

An invoice for $2100, dated February 2, has terms 2/15, 1/30, n/90. If a $670 payment was made on February 15, what payment on March 1st will settle the account? Calculate your answer in dollars to two decimal places. Do not enter the $ sign

Merchandise with an invoice price of $16,100 is sold subject to terms of 2/10, n/30, FOB...

Merchandise with an invoice price of $16,100 is sold subject to terms of 2/10, n/30, FOB shipping. The seller prepaid $151 for the cost of transportation. How much does the seller record in the Sales account at the time of the sale?

The credit terms, 2/10, n/30, indicate that a: Select one: a. 10% discount can be deducted...

The credit terms, 2/10, n/30, indicate that a: Select one: a. 10% discount can be deducted from the invoice if paid within 2 days following the date of sale. b. 2% discount can be deducted from the invoice if paid within 30 days following the date of sale. c. 2% discount can be deducted from the invoice if paid within 10 days following the date of sale. d. 2% of the invoice is due in 10 days, the remainder is...

4. An invoice for $3500 dated July 17th, terms 2/10, E.O.M, is paid on August 10....

4. An invoice for $3500 dated July 17th, terms 2/10, E.O.M, is paid on August 10. What is the amount paid? 5. Mike received a payment of $807.50 from Andrew on October 7 on an invoice of $ 2731.75 dated September 27, terms 5/10. (draw a little chart) (i) How much does Mike credit Andrew’s account for the payment? (ii) How much does Mike still owe on the invoice 6. Turf has received an invoice of $ 1005.00 dated June...

1. Credit term of 1/100, n/30 mean A 1% discount is allowed if the invoice is...

1. Credit term of 1/100, n/30 mean A 1% discount is allowed if the invoice is paid within 10 days, or the entire net amount is due within 30 days A 1% discount is allowed if the invoice is paid within 30 days A 10% discount is allowed if the bills is paid within 1 day of receipt, or the entire amount is due within 30 days None of the above. 2. . The perpetual inventory system involves Counting goods...

A sales invoice included the following information: merchandiseprice, $49,800; transportation, $1,900; terms 2/10, n/30, FOB...

A sales invoice included the following information: merchandise price, $49,800; transportation, $1,900; terms 2/10, n/30, FOB destination. Assuming that merchandise that cost $3,100 is returned before it has been paid for, that the transportation is paid by the seller, and that the invoice is paid within the discount period, what is the amount of cash that buyer pays the seller?

Question