5. Solve the following:

a. Merchandise that had a billed cost of $580.00 was shipped on October 12 and received on October 21. The terms were 8/10 EOM. How much should be remitted if paid on each date?

October 30______ November 10______

Which is better and why?

B. Merchandise was invoices on April 29th with a total billed cost of $2,249.00. Terms are traditional retailing terms of 8/10 EOM.

-What is the last day the cash discount can be taken?

-If the invoice is paid on June 10, how much should be paid?