b. What is Stacy's outstanding balance? Note: Round your answer to the nearest cent. X Answer is complete but not entirely correct. $ 962.00 Outstanding balance

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 4Q: American Signs allows customers to pay with their Jones credit card and cash. Jones charges American...
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Stacy's Dress Shop received a $1,230 invoice dated July 26 with 4/10, 3/15, n/60 terms. On August 09, Stacy's sent a $260 partial
payment. (If more than one discount, assume date of last discount.)
a. What credit should Stacy's receive?
Note: Round your answer to the nearest cent.
Credit
Answer is complete and correct.
$ 268.04
b. What is Stacy's outstanding balance?
Note: Round your answer to the nearest cent.
Answer is complete but not entirely correct.
$ 962.00 X
Outstanding balance
Transcribed Image Text:Stacy's Dress Shop received a $1,230 invoice dated July 26 with 4/10, 3/15, n/60 terms. On August 09, Stacy's sent a $260 partial payment. (If more than one discount, assume date of last discount.) a. What credit should Stacy's receive? Note: Round your answer to the nearest cent. Credit Answer is complete and correct. $ 268.04 b. What is Stacy's outstanding balance? Note: Round your answer to the nearest cent. Answer is complete but not entirely correct. $ 962.00 X Outstanding balance
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