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Santucci Appliances received an invoice dated August 12 with terms 3/10 E.O.M. for the items listed below: 5 GE refrigerators

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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?

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The payment term in the case of business is a common term for extending credit to customers So when …View the full answer


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Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: February 26, 2016 03:34:59
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