Question: 1) An invoice dated December 23 is received with a shipment of basketball equipment from Taiwan on May 18 of the following year. The list

1) An invoice dated December 23 is received with a shipment of basketball equipment from Taiwan on May 18 of the following year. The list price of the equipment is $3582, with allowed series discounts of 20/10/5. If cash terms of sale are 3/15 ROG, find the amount necessary to pay in full on April 26. (3Marks)

2) A retailer knows that 30% of the apples purchased will spoil and must be thrown out. If they buy 200 baskets of apples for $0.32 per basket and want a markup of 60% on selling price, find the selling price per basket of apples. (2 Marks)

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