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[11] Wilson Co. has received an invoice dated October 17 for 5 items with list price $900 each, and for freight of $170. The terms
[11] Wilson Co. has received an invoice dated October 17 for 5 items with list price $900 each, and for freight of $170. The terms were: Find: Trade terms: list less 20%, 15%. Payment terms: 3/10, n/30. a. The last day for payment b. The amount due if payment is made on the last day c. The last day for taking a cash discount d. The amount needed to pay the invoice on the day in (c). e. If the seller agrees to give a cash discount on a partial payment, how much credit would be applied to the account if $1,500 were paid immediately
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