Question: A company received an invoice dated August 6, 2014 with terms 3/10, 1/30, n/60 for an amount of $160,000. It made a 1st payment of

A company received an invoice dated August 6, 2014 with terms 3/10, 1/30, n/60 for an amount of $160,000. It made a 1st payment of $58,200 on August 16, 2014, a 2nd payment of $49,500 on September 5, 2014, and the balance on October 5, 2014.

a. What was the invoice balance after the 1st payment?

b. What was the amount paid on October 5, 2014?

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 Mathematics Questions!

plz solve it within 30-40 mins I'll give you multiple upvote Question 9 of 9 A company received an invoice dated August 17, 2014 with terms 3/10, 1/30, n/60 for an amount of $150,000. It made a 1st...

I want 100% Accurate Answer if you are sure only then Answer otherwise skip Wrong Answer Causes Downvote so Be careful during Answering Thank you!:) A company received an invoice dated August 17,...

A company received an invoice dated July 23, 2014 with terms 3/10, 1/30, n/60 for an amount of $140,000. It made a 1st payment of $58,200 on August 2, 2014, a 2nd payment of $49,500 on August 22,...

A company received an invoice dated September 22, 2014 with terms 3/10, 1/30, n/60 for an amount of $160,000. It made a 1st payment of $58,200 on October 2, 2014, a 2nd payment of $49,500 on October...

A company received on invoice dated August 17,2014 with terms 3/10, 1/30, n/60 for an amount of 150,000 dollars. It made a first payment of $58,200 on August 27, 2014, a second payment of $49,500 on...

1- Scarlet Company received an invoice for $58,000.00 that had payment terms of 2/5 n/30. If it made a partial payment of $14,500.00 during the discount period, calculate the balance of the invoice....

1- Scarlet Company received an invoice for $66,000.00 that had payment terms of 4/5 n/30. If it made a partial payment of $14,100.00 during the discount period, calculate the balance of the invoice....

Q1. Scarlet Company received an invoice for $64,000.00 that had payment terms of 2/5 n/30. If it made a partial payment of $16,800.00 during the discount period, calculate the balance of the invoice....

1- Scarlet Company received an invoice for $71,000.00 that had payment terms of 4/5 n/30. If it made a partial payment of $17,700.00 during the discount period, calculate the balance of the invoice....

The following are correct descriptions about the concept of Productive Investment (I) as one of the categories of Aggregate Expenditure, EXCEPT: In equilibrium is equal to the total amount of...

define internal control and importance of internal control to auditors and firm

Corporate governance is the system of management and operations that the firm utilizes to maximize the interests of all stakeholders. Composition of the board of directors is one important factor for...