A director of accounts received a bill for $643, dated April 5, with sales terms 3/10,...
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A director of accounts received a bill for $643, dated April 5, with sales terms 3/10, 2/15, n/30 A 4% penalty is charged for payment after 30 days. If the director of accounts pays on or after May 6, how much must he pay? First, to find the interest penalty, multiply the net price by the penalty rate. Use the following formula Interest penalty = penalty ratex net price Identify the penalty rate Identify the net price 4 A director of accounts received a bill for $643, dated April 5, with sales terms 3/10, 2/15, n/30 A 4% penalty is charged for payment after 30 days. If the director of accounts pays on or after May 6, how much must he pay? First, to find the interest penalty, multiply the net price by the penalty rate. Use the following formula Interest penalty = penalty ratex net price Identify the penalty rate Identify the net price 4
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Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
Posted Date:
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