On June 3, Josh made a payment of $500 on an invoice for $1283.50, dated May 25.

Question:

On June 3, Josh made a payment of $500 on an invoice for $1283.50, dated May 25. The terms of payment were 3/10, n/30. What amount was credited to Josh’s account?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

See More Books

Question Posted: Jan 20, 2016 06:56 AM

See More Questions

On May 1, 2016, Antonelli Corporation received a subscription from Angelina Paz for 700 shares of its $1 par-value common stock at a price of $28 a share. Paz made a payment of $14.00 per share on...
Custom Kitchens received an invoice dated November 17 from Idea Cabinets Ltd. for $7260 with terms 3/15, 1 /30, n/60. If Custom Kitchens made a payment of $4000 on December 2, what further payment...
Lakeside Marine received an invoice from Osborne Boats dated March 26 with terms 1 /15, n/45, ROG for four 19-foot Barracuda boats at $23,500 each, less 20%, 5%. The boats arrived on April 27....
Assume that global lightning on the Earth constitutes a constant current of 1.00 kA between the ground and an atmospheric layer at potential 260 kV. (a) Find the power of terrestrial lightning. (b)...
Cook Company uses LIFO for inventory costing and reports the following financial data. It also recomputed inventory and cost of goods sold using FIFO for comparison purposes. 1. Compute its current...
For the power amplifier of Fig. 12.37, calculate: a. Po(ac). b. Pi(dc). c. %(. d. Power dissipated by both output transistors. tVce (+40 V) Ri 100 0 100 F - 18 V.rms Rs 100 8 02 100 F 1(X) -VEE (40...
Explain how financial accounting and reporting for private not-for-profit organizations differs from that of state and local governments. AppendixLO1
Booher Book Stores has a beta of 0.8. The yield on a 3-month T-bill is 4% and the yield on a 10-year T-bond is 6%. The market risk premium is 5.5%, and the return on an average stock in the market...
Develop a model for option pricing consisting of a binomial tree with many steps. Solve for the price of the option by using the Cox-Ross-Rubinstein Formula
The senior management of Tungston Company has proposed the following three performance measures for the company: 1. Net income as a percent of stockholders equity 2. Revenue growth 3. Employee...
The terms of payment on an invoice for $2835.49 are 2/15, n/45. The balance owed after a payment within the discount period is $1135.49. What was the amount of the payment?
An invoice for $3868, dated June 26, had terms 2/10, 1/20, n/45. What amount was credited for: a. A payment of $1000 on July 5? b. Apaymentof$1000onJuly16? c. A payment of $1000 on August 10?
Angel Martin is a young entrepreneur who operates Martin Music Services, offering singing lessons and instruction on musical instruments. Martin wishes to expand but needs a $30,000 loan. The bank...
The Purple Company This project will give you an opportunity to apply your knowledge of accounting principles and procedures to a corporation. You will handle the accounting work of The Purple...
Comprehensive Problem Bug-Off Exterminators (Algo) Bug-Off Exterminators provides pest control services and sells extermination products manufactured by other companies. Following is the company's...
The Michigan Company has made the following information available for its production facility for the month of June. Fixed overhead was estimated at 19,000 machine hours for the production cycle....
Question 1 Copper Explorations recently acquired the rights to mine a new site. Machinery, equipment and a truck were purchased to begin the mining operations at the site. Details of the assets for...
Large Data Sets from Appendix B. In Exercises 25-28, refer to the indicated data set in Appendix B. Use software or a calculator to find the means and medians. [Data Set] Weights Use the weights of...
As interest rates increase, why does the price of a long-term bond decrease more than that of a short-term bond?
Anne is employed by Bradley Contracting Company. Bradley has a $1.3 million contract to build a small group of outbuildings in a national park. Anne alleges that Bradley Contracting has discriminated...
San Marcos Electronics failed to record the following items at December 31, 19X4, the end of its fiscal year: - Accrued salary expense, $\$ 1,100$ - Prepaid insurance, $\$ 700$ - Accrued interest...
Home Workshop Supply obtains table saws for $720 less 33 1/3% and 15%. A saw regularly priced at $750 was sold for $450. The shop's overhead is 22% of cost. a. What was the markdown rate on the saw?...
A college club hosted a "Welcome back" barbecue for its student members. The college food service department presented the club with an invoice dated September 15 for $875.75 with terms 2/7, 1/15,...
Durham Distributors buys an item from a supplier that lists for $595. Durham is eligible for a trade discount of 20%, a volume discount of 12.5% and a special promotional discount of 8%. How much...
Your firm is planning to invest in an automated packaging plant. Harburtin Industries is an all - equity firm that specializes in this business. Suppose Harburtin ' s equity beta is 0 . 8 7 , the...
Ned Allen opened a medical practice in Los Angeles, California, and had the following transactions during the month of January. (Click the icon to view the January transactions.) Journalize the...
do you need more information or are you working on this? Irene Watts and John Lyon are forming a partnership to which Watts will devote one- half time and Lyon will devote full time. They have...

On June 3, Josh made a payment of $500 on an invoice for $1283.50, dated May 25.

Question:

Step by Step Answer:

Amount cr...View the full answer

Business Mathematics In Canada

Students also viewed these Accounting questions