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Choose a supplier that you will use to make purchases for your one-time purchases identified in your Start Up Exercise, such as computers or equipment
- Choose a supplier that you will use to make purchases for your one-time purchases identified in your Start Up Exercise, such as computers or equipment needed for your business.
- List the items and the quantity of each item needed from your Start Up Exercise, and the retail cost of those items.
- Determine the total retail cost of these items (one-time purchases).
- Using the total retail cost of your items, and given a 15/8/2 chain discount, calculate:
- Net cost equivalent
- Net price
- Single discount equivalent
- Choose a supplier that you will use to order regular supplies (variable expenses, recurring purchases) identified in your Start Up Exercise.
- List the products and the quantity of each item needed for the month from your Start Up Exercise, and the retail cost of those items.
- Determine the total retail cost for the supplies (recurring purchases).
- Create an invoice for the total cost for these supplies, dated May 26.
- Using this invoice, calculate each of the following:
- Terms of 3/15, net 30 (ordinary dating)
- Find the last date for the discount.
- Find the amount due with discount.
- Determine due date of net payment.
- Terms of 2/10, EOM (proximo)
- Find the final date for the discount.
- Find the amount due with discount.
- Determine due date of net payment.
- Terms of 5/20, ROG with shipment arriving on June 2.
- Find the final date for the discount.
- Find the amount due with the discount.
- Determine due date of net payment.
- Terms of 4/20 prox., partial payment of 70% of the net paid on June 15
- Calculate the amount credited for partial payment.
- Calculate the balance due on the invoice.
- Determine the cash discount earned
- Terms of 3/15, net 30 (ordinary dating)
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