Question: 1) What amount will reduce the amount due on an invoice of $2423.14 by $922.67 if the terms of the invoice are 5/15, n/45, and

1) What amount will reduce the amount due on an invoice of $2423.14 by $922.67 if the terms of the invoice are 5/15, n/45, and the payment was made during the discount period?

2) A department store paid $35.11 for a salad bowl. Overhead expense is 17% of the regular selling price and profit is 18% of the regular selling price. During a clearance sale, the set was sold at a markdown of 27%. What was the operating loss on the sale?

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