Question: 1) An invoice for $5 700.00, dated May 28, 4/10, 1/20, n/60, was received on May 30. What payment must be made on June 5

1) An invoice for $5 700.00, dated May 28, 4/10, 1/20, n/60, was received on May 30. What payment must be made on June 5 to reduce the debt to $4440.00?

2) On June 18, an invoice dated June 18 for $5945.00 less 16%, 15%, terms 5/10, n/30, was received by Nova Distributors. (4 marks)

a) What is the last day of the discount period?

b) What is the amount due if the invoice is paid in full within the discount period?

3) An invoice dated May 12, terms: 4/10, n/30 for $2900.00 was received by Bruce Distributors. (4 marks)

a) What is the last day of the discount period?

b) What is the amount due if the invoice is paid on June 5?

c) What is the amount due if the invoice is paid on May 20?

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