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Mr. Charlie offers credit customers a 5% cash discount if the sales price is paid within 15 days. On April 3, Mr. Charlie sold 100
Mr. Charlie offers credit customers a 5% cash discount if the sales price is paid within 15 days. On April 3, Mr. Charlie sold 100 cupcakes at $20 each. The customer made three cash payments to completely pay for the 100 cupcakes: one on Apr 3, one on Apr 16, and one on Apr 25. The customer paid $380 cash on Apr 3, and $1,000 cash on Apr 25. What must have been the cash payment on Apr 16? Depends on whether gross method or net method is used. $589.00 $570.00 $600.00
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