Sellane Appliances received an invoice dated October 11 with terms 4/10 E.O.M. for the items listed below 6 refrigerators at $950 each less 25% and 5% 1 3 dishwashers at $638 each less 16 %, 12.8%, and 4% (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? (c) What is the amount of the cash discount if a partial payment is made such that a balance of $2000 remains outstanding on the invoice?

Sellane Appliances received an invoice dated October 11 with terms 4/10 E.O.M. for the items listed below 6 refrigerators at $950 each less 25% and 5% 1 3 dishwashers at $638 each less 16 %, 12.8%, and 4% (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? (c) What is the amount of the cash discount if a partial payment is made such that a balance of $2000 remains outstanding on the invoice?

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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