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Company received invoice with terms 5/20 R.O.G. for the terms listed below. 90 teak trays at $31.90 each 25 teak buckets at $61.40 each 35
Company received invoice with terms 5/20 R.O.G. for the terms listed below.
90 teak trays at $31.90 each 25 teak buckets at $61.40 each 35 teak salad bowls at $57.90 each
All items are subject to trade discounts of 94/3%, 11/2%, and 6%.
a) if shipment was received on Sept 28, what is last day of discount period?
b) what is the amount due if invoice is paid on full on Oct 13?
c) if only partial payment is made on last day of discount period, what amount is needed to reduce the outstanding balance to $2200?
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