Saved Help e A local Sports Authority ordered 50 pairs of tennis shoes from Nike Corporation. The shoes were priced at $85 for each palf with the following terms: 4/10, 2/30, n/60. The invoice was dated October 15. Sports Authority sent in a payment on October 28 What should have been the amount of the check? (Do not round intermediate calculation.) Amount of the check 50

Saved Help e A local Sports Authority ordered 50 pairs of tennis shoes from Nike Corporation. The shoes were priced at $85 for each palf with the following terms: 4/10, 2/30, n/60. The invoice was dated October 15. Sports Authority sent in a payment on October 28 What should have been the amount of the check? (Do not round intermediate calculation.) Amount of the check 50

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A local Sports Authority ordered 50 pairs of tennis shoes from Nike Corporation. The shoes were priced at $85 for each pair with the following terms: 4/10, 2/30, n/60. The invoice was dated October 15. Sports Authority sent in a payment on October 28. What should have been the amount of the c ck? (Do not round intermediate calculation.) Amount of the check
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mework Saved Stacy's Dress Shop received a $1,240 invoice dated July 27 with 5/10, 4/15, n/60 terms. On August 10, Stacy's sent a $261 partial payment. (If more than one discount, assume date of last discount) a. What credit should Stacy's receive? (Round your answer to the nearest cent.) Credit %$4 b. What is Stacy's outstanding balance? (Round your answer to the nearest cent.) Outstanding balance 24