Cash Discount 6. The Local Dollar Store received an invoice for $8500.00 dated January 31, terms 5/10, 2/30, n/90, for a shipment of skis. The Local Dollar Store made two partial payments. a) How much was paid on February 7 to reduce the unpaid balance to $5000.00? b) How much was paid on March 1 to reduce the outstanding balance by $1500.00? c) What was the outstanding balance on the account on March 2? d) How much did the Local Dollar Store save by taking the advantage of the cash discounts? Markup 7. A bicycle at Janice's sport shop, costing $108.50 was marked up to reflect 40% of the cost price, Calculate the selling price. Markup 7. A bicycle at Janice's sport shop, costing $108.50 was marked up to reflect 40% of the cost price. Calculate the selling price