FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Solve
utstanding balance
254.3
The 2012 Mini Cooper S retails starting at $25,200. Assume the dealership can purchase five
with a 30/20/15 chain discount. What is the dealer's net price for all five vehicles?
price
$
25,200
Gunderson's Hardware received a $1,202 invoice dated July 09 with 3/10, 2/15, n/60 terms. On
July 23, Gunderson's sent a $486 partial payment.
"hat is the amount of savings due to the cash discount? (Round your answer to the nearest cent.)
mount of savings
Vhat is the outstanding balance on this invoice? (Round your answer to the nearest cent.)
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Transcribed Image Text:utstanding balance 254.3 The 2012 Mini Cooper S retails starting at $25,200. Assume the dealership can purchase five with a 30/20/15 chain discount. What is the dealer's net price for all five vehicles? price $ 25,200 Gunderson's Hardware received a $1,202 invoice dated July 09 with 3/10, 2/15, n/60 terms. On July 23, Gunderson's sent a $486 partial payment. "hat is the amount of savings due to the cash discount? (Round your answer to the nearest cent.) mount of savings Vhat is the outstanding balance on this invoice? (Round your answer to the nearest cent.)
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