Question: 1. The Alfa Corp received an invoice dated July 12 for $5,400 with terms 3/10, 1.5/20, n/45. They made a payment of S2,000 on July

1. The Alfa Corp received an invoice dated July

1. The Alfa Corp received an invoice dated July 12 for $5,400 with terms 3/10, 1.5/20, n/45. They made a payment of S2,000 on July 20%, and a second payment on July 31" that reduced the balance owing to $1,000. Find the size of the second payment. [4 marks]

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

1. What are seven components of the personal financial planning process? 2. Based on your readings, and Todds lectures, in your opinion, what factors influence the level of interest rates? Why, and...

Q:

1. The Alfa Corp received an invoice dated July 12 for $5,400 with terms 3/10, 1.5/20, n/45. They made a payment of S2,000 on July 20%, and a second payment on July 31" that reduced the balance owing...

Q:

Peak Roofing sent Jensen Builders an invoice dated July 12 for $5400 with terms 3/10, 1 /20, n/45. Jensen made a payment of $2000 on July 20, and a second payment on 2 August 1 that reduced the...

Q:

Peak Roofing sent Jensen Builders an invoice dated July 12 for $5400 with terms 3/10, 1 /20, n/45. Jensen made a payment of $2000 on July 20, and a second payment on 2 August 1 that reduced the...

Q:

General Ledger (GL) Assignments For the following GL assignments, prepare journal entries highlighting the operating cycle of a merchandising company. A trial balance is automatically generated based...

Q:

BFA714 Australian Tax Law Assignment 1 (individual) DUE DATE: Friday 28th August at 5pm CLIENT INFORMATION: General Facts: Scott Wright is 36 years old and is an Australian resident for tax purposes....

Q:

An item purchased by retailer has a list price of $145 and is subject to trade discounts of 15% and 10%. The item was sold for $175 by the retailer. What is the rate of markup based on selling price?...

Q:

Peak roofing sent jensen builders an invoice dated July 12 for $5400 with terms 3/10, 1 and half on 20,n/45.Jensen made a payment of $2000 on July 20 and a second payment on August 1 that reduced the...

Q:

I need some help with my homeworking I'm seeking for some answers to help me study Question 17 Prepare journal entries to record the following merchandising transactions of Cabela's, which uses the...

Q:

Narrative and Instructions Rockford Corporation is a wholesale plumbing supply distributor. The corporation was organized in 1981, under the laws of the State of Illinois, with an authorized...

Q:

Narrative and Instructions Rockford Corporation is a wholesale plumbing supply distributor. The corporation was organized in 1981, under the laws of the State of Illinois, with an authorized...

Q:

The chart of accounts for Angels Delivery Service of Flin Flon is as follows: Angels Delivery Service completed the following transactions during the month of March 2013: A. Alice Angel invested...

Q:

Give one example each of a nominal, ordinal, interval, and ratio measure.

Q:

ca 2 ah 1 1 - 2 1 Which statement fefers best to management accounting information? Select one A . There are no regulations governing the reports. a . The audience tends to be sharcholders,...

Q:

atch the compensation objectives with their meanings. Efficiency Efficiency drop zone empty. Fairness Fairness drop zone empty. Compliance Compliance drop zone empty. Improving performance and...