Baker's Financial Planners purchased nine new computers for $910 each. It received a 20% discount because it purchased more than pur and an additional 5% discount because it took immediate delivery. Terms of payment were 5/10, n/30. Baker's pays the bill within he cash discount period. How much should the check be? (Do not round intermediate calculations. Round your final answer to the earest cent.) mount 24

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Baker's Financial Planners purchased nine new computers for $910 each. It received a 20% discount because it purchased more than
four and an additional 5% discount because it took immediate delivery. Terms of payment were 5/10, n/30. Baker's pays the bill within
the cash discount period. How much should the check be? (Do not round intermediate calculations. Round your final answer to the
nearest cent.)
Amount
24
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Transcribed Image Text:lege.blackboard.com%252Fwebapps%252Fportal% mework Saved HI Baker's Financial Planners purchased nine new computers for $910 each. It received a 20% discount because it purchased more than four and an additional 5% discount because it took immediate delivery. Terms of payment were 5/10, n/30. Baker's pays the bill within the cash discount period. How much should the check be? (Do not round intermediate calculations. Round your final answer to the nearest cent.) Amount 24 ... Next < Prev 10 of 10
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When purchases are made there can be trade discount and cash discount. Trade discounts are firstly reduced from purchase price to arrive at net purchase price. After that cash discount is allowed based on terms of discount and payment made.

 

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