ummer.pdf Page 5 of Directions: Read each situation, answer the questions, and complete the necessary calculations! Round to 2 decimal places. 1. The Kay Mowing Company has an invoice for $750 dated August 20 with terms 3/10, n/30. Answer the following questions about this situation. a) By what date must the invoice be paid to receive the discount? b) What is the dollar amount of discount if paid by this date? c) What is the dollar amount that should be paid if paid within the discount period? d) When (indicate date) does the credit period end? e) The bill was paid on August 31; how much money (amount) was sent? 2. Kay Mowing received an invoice for $300 that was dated October 12 with terms of 2/10, n/30. Answer the following questions about this situation. a) By what date must the invoice be paid to receive the discount? b) What is the dollar amount of discount if paid by this date? c) What is the dollar amount that should be paid if paid within the discount period? d) When (indicate date) does the credit period end? e) The bill was paid on October 23; how much money (dollar amount) was sent