You place an order for 310 units of inventory at a unit price of $160. The supplier offers terms of 1/15, net 90. a-1. How long do you have to pay before the account is overdue? Days until overdue days a-2. If you take the full period, how much should you remit? (Omlt "$" sign In your response.) Remittance $ b-1. What is the discount being offered? Discount offered Remittance % b-2. How quickly must you pay to get the discount? Number of days days b-3. If you do take the discount, how much should you remit? (Omit "$" sign In your response.) $ c-1. If you don't take the discount, how much interest are you paying implicitly? (Omit "$" sign In your response.) Implicit interest $ c-2. How many days' credit are you receiving? Days' credit days

You place an order for 310 units of inventory at a unit price of $160. The supplier offers terms of 1/15, net 90. a-1. How long do you have to pay before the account is overdue? Days until overdue days a-2. If you take the full period, how much should you remit? (Omlt "$" sign In your response.) Remittance $ b-1. What is the discount being offered? Discount offered Remittance % b-2. How quickly must you pay to get the discount? Number of days days b-3. If you do take the discount, how much should you remit? (Omit "$" sign In your response.) $ c-1. If you don't take the discount, how much interest are you paying implicitly? (Omit "$" sign In your response.) Implicit interest $ c-2. How many days' credit are you receiving? Days' credit days

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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please send correct answer Q2
A buyer who purchases merchandise under credit terms of 1/10, n/30 has 30 days after the invoice date to take advantage of the sales discount.
Assuming that you are a retail merchandiser. You bought goods from wholesale merchandise under the credit terms of 2/10 n/30. What do you mean by n/30 under the credit term? a. maximum discount 10% b. maximum Credit days 30 c. maximum Credit days 10 d. maximum discount 30%
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what is the total price of the first invoice that activates the chain discount?