An invoice for $13,600 dated May 18 has terms 2/10, ROG. The goods were shipped on May 21 and received on May 28.
a. When does the discount period end?
b. When does the credit period end?
c. What payment on May 30 will reduce the outstanding balance by $5000?
d. Instead of the payment in Part(c),$5000ispaidonMay30.Whatwillbethe balance owed?
e. Instead of the payment in Parts (c) and (d), what payment on June 5 will reduce the outstanding balance to $5000?