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Insomnia Cookies, Inc. purchased $25,000 worth of inventory on account from their vendor. The terms were 3/15, n/40. Insomnia Cookies paid the account in full
Insomnia Cookies, Inc. purchased $25,000 worth of inventory on account from their vendor. The terms were 3/15, n/40. Insomnia Cookies paid the account in full in 12 days but before paying they returned $3,000 worth of inventory. How much did Insomnia Cookies pay their vendor on day 12? Show your work: III. SHORT-TERM NOTE RECEIVABLE - 2 Points On November 1, 2019, Insomnia Cookies, Inc. lent $4,000 to an employee at 8% annual rate. The employee was to pay the note in full plus interest in 4 months. How much did the employee pay in total on the due date? Show your work
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