Question 5 You received invoices from Excel Industries dated July 20" for $2,000 and Aug 1* for $1,000. You have also made a payment of $1,200 on July 27". What total amount must be paid on August 5 to settle the remaining balance on all the invoices with terms 3/10, n/30? Question 6 a) What is the single equivalent discount for trade discounts of 20%, 10% and 3%? b) If all three discounts applied to your purchase of inventory with a list price of $25,000, how much would you have to pay