89) F in the blanks: (1 pt each) invoice Charge Invoice Freight Date of Terms $8

Question

89) F in the blanks: (1 pt each) invoice Charge Invoice Freight Date of Terms $8,500 $100 $760 3/10, 215, 813 # 10) A restaurant received an invoice for milk for S350.50 with terms of 2no. nso on April 19. On April 29 they sent a payment of $230.50. How much do they st owe? (3pts) # 1 1 ) Best Buy offers cash discounts of2/10. 1ns, noo on aa poctaet n annoa for $875 dated July 18 is paid on July 30, what is the amount due? (3 ots) #12) The list price of a computer is $899.90 with a chain trade discortof 1020 and payment terms of 3/10, n/30 EOM. If an invoice is dated January 28 and paid on March 7, what amount must be paid? (3 pts) #13) Please fill in the missing items on the following chart (1 pt each) % markup selling price $ mark up $400 $75 cost $150 $225 30% $850 60% 40% $425 $950

Explanation / Answer

Question 9:-

@First row Discount 2/10 is given only on gross invoice.

Since payment is done within 10 days, so 2% of 8500 = $ 170.  

net amount paid = (8500 - 170) + 100 = $ 8430

@ second row

Since the payment is made on after 10 days but before 15 days, so 2/15 becomes applicable , so

Discount = 2% of 760 = $15.2

Net amount paid = $ 760- $15.2 = $ 744.80

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