Jack Williams works in a very active department called purchasing. He works with store managers, marketing,...

 

 

Transcribed Image Text:

Jack Williams works in a very active department called purchasing. He works with store managers, marketing, and supply companies. The people in his department try to have the right product, in the right amount, at the right place, and at the lowest cost. It is a tough job! In early September, Williams placed an order with one vendor for products having a combined list price of $27,393. The vendor offered trade discounts of 20/10/10. The invoice arrived through the computer system the next day. It was dated September 4, had terms of 3/15 EOM, and showed a shipping charge of $748.38. Find the following. 1. The total amount of the invoice excluding shipping 2. The final discount date 3. The net payment date 4. The amount necessary to pay the invoice in full on October 11, including the shipping 5. Suppose that on October 11 the invoice is not paid in full, but a partial payment of $10,000 is made instead. Find the credit given for the partial payment and the balance due on the invoice including shipping. 1. 2. 3. 4. 5. Discussion Question: Have you thought about a career in purchasing? Every company that handles products has people working in this field. See what you can find out about this career on the Web. You may wish to search for the American Purchasing Society. Source: DISCOUNTS AT BED BATH & BEYOND, www.bedbathandbeyond.com. Jack Williams works in a very active department called purchasing. He works with store managers, marketing, and supply companies. The people in his department try to have the right product, in the right amount, at the right place, and at the lowest cost. It is a tough job! In early September, Williams placed an order with one vendor for products having a combined list price of $27,393. The vendor offered trade discounts of 20/10/10. The invoice arrived through the computer system the next day. It was dated September 4, had terms of 3/15 EOM, and showed a shipping charge of $748.38. Find the following. 1. The total amount of the invoice excluding shipping 2. The final discount date 3. The net payment date 4. The amount necessary to pay the invoice in full on October 11, including the shipping 5. Suppose that on October 11 the invoice is not paid in full, but a partial payment of $10,000 is made instead. Find the credit given for the partial payment and the balance due on the invoice including shipping. 1. 2. 3. 4. 5. Discussion Question: Have you thought about a career in purchasing? Every company that handles products has people working in this field. See what you can find out about this career on the Web. You may wish to search for the American Purchasing Society. Source: DISCOUNTS AT BED BATH & BEYOND, www.bedbathandbeyond.com.

Answer rating: 100% (QA)

Answer Lets break down the problem step by step The total amount of the invoice excluding shipping To calculate the total amount of the invoice exclud... View the full answer