As part of the employment interview for an accounting job at Sound Design, you have been asked to answer the questions below, based on an invoice from one of Sound Design’s vendors, Target Electronic Wholesalers.

 

a. Extend each line and calculate the merchandise total and the total amount of the invoice, using the space provided on the invoice.

b. What are the discount date and the net date if the shipment arrived on July 16?

G Sold to: Sound Design 480 McDowell Rd. Phoenix, AZ 85008 Stock # 4811V 511CX 6146M 1031A TARGET ELECTRONIC WHOLESALERS 1979 N.E. 123 Street Jacksonville, Florida 32204 Description Stereo Receivers Blu-ray Players Home Theater Systems LCD TVs Invoice Date: June 28, 20XX Terms of Sale: 3/15, n/30 ROG Unit Price 50 x $297.50 = 25 x $132.28=) 40 x $658.12= 20 $591.00= Merchandise Total Insurance + Shipping Involce Total Amount $1,150.00