Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Bally Manufacturing sent Intel Corporation an invoice for machinery with a $14,800 list price. Bally dated the invoice August 17 with 5/10 EOM terms. Intel
Bally Manufacturing sent Intel Corporation an invoice for machinery with a $14,800 list price. Bally dated the invoice August 17 with 5/10 EOM terms. Intel receives a 30% trade discount. Intel pays the invoice on August 30. On August 26, Intel Corporation returns $200 of the machinery due to defects. What does Intel pay Bally on August 30?
My answer is $9,652 but it shows up as incorrect on McGraw Hill. What am I doing wrong with regard to this question?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started