Import Exclusives Ltd. received an invoice dated May 20 from Dansk Specialties of Copenhagen with terms 5/20 R.O.G. for
100 teak trays at $34.30 each; 25 teak ice buckets at $63.60 each; 40 teak salad bowls at $54.50 each.
All items are subject to trade discounts of 33 1/3%, 7 1/2%, and 5%.
(a) If the shipment was received on June 28, what is the last day of the discount period?
(b) What is the amount due if the invoice is paid in full on July 15?
(c) If a partial payment only is made on the last day of the discount period, what amount is due to reduce the outstanding balance to $2500?