Santucci Appliances received an invoice dated August 12 with terms 3/10 E.O.M. for the items listed below:
5 GE refrigerators at $980 each less 25% and 5%;
4 Inglis dishwashers at $696 each less 16 2/3%, 12.5%, and 4%
(a) What is the last day for taking the cash discount?
(b) What is the amount due if the invoice is paid on the last day for taking the discount?
(c) What is the amount of the cash discount if a partial payment is made such that a balance of $2000 remains outstanding on the invoice?