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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

  1. 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.
    1. List the items and the quantity of each item needed from your Start Up Exercise, and the retail cost of those items.
    2. Determine the total retail cost of these items (one-time purchases).
    3. Using the total retail cost of your items, and given a 15/8/2 chain discount, calculate:
      1. Net cost equivalent
      2. Net price
      3. Single discount equivalent
  2. Choose a supplier that you will use to order regular supplies (variable expenses, recurring purchases) identified in your Start Up Exercise.
    1. 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.
    2. Determine the total retail cost for the supplies (recurring purchases).
    3. Create an invoice for the total cost for these supplies, dated May 26.
    4. Using this invoice, calculate each of the following:
      1. Terms of 3/15, net 30 (ordinary dating)
        1. Find the last date for the discount.
        2. Find the amount due with discount.
        3. Determine due date of net payment.
      2. Terms of 2/10, EOM (proximo)
        1. Find the final date for the discount.
        2. Find the amount due with discount.
        3. Determine due date of net payment.
      3. Terms of 5/20, ROG with shipment arriving on June 2.
        1. Find the final date for the discount.
        2. Find the amount due with the discount.
        3. Determine due date of net payment.
      4. Terms of 4/20 prox., partial payment of 70% of the net paid on June 15
        1. Calculate the amount credited for partial payment.
        2. Calculate the balance due on the invoice.
        3. Determine the cash discount earned

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