On January 2, 2023, The Clown Restaurant (Clown) purchased 250 chairs from The ComfortableChair Company (Comfortable). The cost of each chair was $200. The sales terms were 3/8,n/50. The shipping terms were Free on Board Destination. The shipping and insurance costs totaled $625.On January 4th - Clown returned 30 chairs and received a full refund on January 7th - Clown discovered 70 chairs had minor defects but were still saleable. Comfortable granted Clown an allowance of $350On January 15th - Clown returned another 10 chairs and received a full refund Requirement: answer each of the following scenarios as if they are independent of each other (1) Scenario ##1 - lf Clown pays 25% of the total due to Comfortable before the end of theDiscount Period, how much will Clown pay Comfortable and the end of the DiscountPeriod?(2) Scenario #2 - lf Clown pays the full amount due to Comfortable at the end of the CreditPeriod, how much will Clown pay Comfortable?

On January 2, 2023, The Clown Restaurant (Clown) purchased 250 chairs from The Comfortable Chair Company (Comfortable). The cost of each chair was $200. The sales terms were 3/8, n/50. The shipping terms were Free on Board Destination. The shipping and insurance costs totaled $625. On January 4th Clown returned 30 chairs and received a full refund On January 7th Clown discovered 70 chairs had minor defects but were still saleable. Comfortable granted Clown an allowance of $350 On January 15th Clown returned another 10 chairs and received a full refund Requirement: answer each of the following scenarios as if they are independent of each other (1) Scenario \#1 - If Clown pays 25% of the total due to Comfortable before the end of the Discount Period, how much will Clown pay Comfortable and the end of the Discount Period? (2) Scenario \#2 - If Clown pays the full amount due to Comfortable at the end of the Credit Period, how much will Clown pay Comfortable