You received invoices from Global Inc. dated Jan 20 for $2800, Jan 25 for $4200, and Feb 1 (non-leap-year) for $1500. You have also made a payment of $4800 on Jan 27th. The invoices all have terms of 3/10, n/30. A. What is the outstanding balance on the January 25th invoice after the January 27th payment? B. What total amount must be paid on Feb 5 to settle the remaining balance on all the invoices?
You received invoices from Global Inc. dated Jan 20 for $2800, Jan 25 for $4200, and Feb 1 (non-leap-year) for $1500. You have also made a payment of $4800 on Jan 27th. The invoices all have terms of 3/10, n/30. A. What is the outstanding balance on the January 25th invoice after the January 27th payment? B. What total amount must be paid on Feb 5 to settle the remaining balance on all the invoices?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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