• The Peel Trading Company received an invoice dated September 20 for $16000 less 25%, 20%, terms 5/10, 2/30, n/60. Peel made a payment on September 30 to reduce the debt to $5000 and a payment on October 20 to reduce the debt by $3000 (2pts). (a) What amount must Peel remit to pay the balance of the debt at the end of the credit period? Answer: $2000 b) What is the total amount paid by Peel? Answer: $9310