CHAPTER 2: MYLAB QUIZ 1.Air Yukon received a shipment of plastic trays on September 2. The invoice amounting to $25,630 was dated August 15, terms 2/10, n/30 R.O.G. What is the last day for taking the cash discount, and how much is to be paid if the discount is taken? a)What is the last day for taking the cash discount? b)How much is to be paid if the discount is taken? 2.A company received an invoice for $2668.38 dated June 14 with terms 4/15, 3/30, 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?
3.Bay Street Vending received an invoice dated March 28 with terms 3/15, n/30. The amount stated on the invoice was $2071.00. 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? 4.What amount must be remitted if the following invoices, all with terms 5/10, 2/30, n/60, are paid together on December 8? Invoice No. 312 dated November 2 for $923.00 Invoice No. 429 dated November 14 for $784.00 Invoice No. 563 dated November 30 for $873.00
5.On May 18, an invoice dated May 17 for $4000 less 20% and 15%, terms 5/10 E.O.M. was received by Aldo Distributors. a)What is the last day for taking the cash discount? b)What is the amount due if the invoice is paid within the discount period?
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