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 of the discount period?(b)What is the amount due if the invoice is paid within the discount period?

Trade discount and cash discount are two types of discount being offered by seller to the customers.…

Answered: On May 18, an invoice dated May 17…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

See similar textbooks

Similar questions

On March 19 Gunderson’s Hardware received a $20,800 invoice dated March 15. Cash discount terms were 3/10, n/30. On March 24, Gunderson sent an $8,320 partial payment. What is the outstanding amount due on this invoice? What is the outstanding on this invoice?
Jones Company received an invoice for $1,450 dated August 28, terms/EOM. (A) What is the last date of the discount and credit periods? Discount period Credit period
As a buyer for the J&J company, you receive an invoice with terms 3/10, EOM, net 60. The invoice amount was $7,800.00 and was dated APR. 28. When is the last day the buyer still can get the cash discount? When is the net payment due? If the invoice was paid on June 9, what would be the cash discount amount? (in $) If the invoice was paid on July 10, what would be the net amount due? (in $)
On oct 18, an invoice dated October 18 for £4250 less 15% , 17% terms 5/10, n/30 was received by Johns Distributors. What is the last day of discount? What is the amount due if the invoice is paid in full within the discount period?
What payment should be made on an invoice for $500 dated November 16, carrying terms 4/10, net 30?
An invoice is dated June 17 with terms 3/10-50 ex. Find the final discount date and the net payment date. The net payment date is 20 days after the final discount date. The final discount date is
1. An invoice dated June 27 for P20, 850 carried a cash discount of 5/30. If this invoice is paid on July 25, how much should be the payment?
Quick Tire and Lube received a 120-day, 9% note for $60,000, dated June 12, from a customer on account. Assume 360 days in a year. Question Content Area a. Determine the due date of the note. b. Determine the maturity value of the note. Question Content Area c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank.
A credit sale of $2800 is made on July 15, terms 4/10, net/30, on which a return of $200 is granted on July 18. What amount is received as payment in full on July 24?
Washington Products offers credit terms of 3/10, n/45. Which of the following statementsis correct?a. The customer can take a 3% discount if the bill is paid within 45 days of the invoice date.b. The total amount of the invoice must be paid within 10 days of the invoice date.c. A discount of 3% can be taken if the invoice is paid within 10 days of the invoice date.d. No discount is offered for early payment.
An invoice is dated may 22 with terms 4/18 EOM, Assuming the net date is 20 days after discount date. What is the discount trade and the net date
Note receivable Prefix Supply Company received a 120-day, 7% note for $84,000, dated April 12 from a customer on account. Assume 360-days in a year. a. Determine the due date of the note. b. Determine the maturity value of the note. $ c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank. E

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

(a)	What is the last day of the discount period?
(b)	What is the amount due if the invoice is paid within the discount period?

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 of the discount​ period? ​(b) What is the amount due if the invoice is paid within the discount​ period?

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 of the discount period? (b) What is the amount due if the invoice is paid within the discount period?