Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Maya, the general manager of Fitness World, received a shipment of new equipment for her gym. The invoice dated March 04, 204 was for $

image text in transcribed

Maya, the general manager of Fitness World, received a shipment of new equipment for her gym. The invoice dated March 04, 204 was for $ 30,000 with payment terms of 3/10, 2.5/30, n/60. a) If she made a payment of $10,000 on March 14, 2014, calculate the balance amount on the invoice. (2marks) b) What further payment on April 03, 2014, will reduce the balance to $ 2000? (2marks) c) If the invoice was settled with a balance payment on May 03, 2014, what was the total payment for the shipment? (2marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions