Question: A man gets an invoice for $440 with terms 2/10, 1/15, n/30. How much would he pay 7 days after the invoice date? CITO

A man gets an invoice for $440 with terms 2/10, 1/15, n/30. How much would he pay 7 days after the invoice date? CITO To find the net amount, multiply the net price by the complement

A man gets an invoice for $440 with terms 2/10, 1/15, n/30. How much would he pay 7 days after the invoice date? CITO To find the net amount, multiply the net price by the complement of the cash discount rate. Use the following formula Net amount = complement of cash discount ratex net price First, identify the cash discount rate. To find the complement of the cash discount rate, subtract the cash discount rate from the 100%. Second, identify the net price.

Step by Step Solution

★★★★★

3.47 Rating (144 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

The man would pay 43720 7 days after the invoice date The invoice terms 210 11... View full answer

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 Accounting Questions!

Ken Bennett received an invoice dated March 9, with terms 2/10, n/30, amounting to $540. He paid the bill on March 12. 1. How much was the cash discount? 2. What is the net amount Ken will pay? B....

The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...

The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...

A loan is amortized by level payments every February 1, plus a smaller final payment. The borrower notices that the interest paid in the February 1, 2014 payment was 103.00, and the interest in the...

A man gets an invoice for $440 with terms 4/10, 1/15, n/30. How much would he pay 7 days after the invoice date? The net amount due is (Round to the nearest cent as needed.)

A man gets an invoice for $440 with terms 4/10, 1/15, n/30. How much would he pay 7 days after the invoice date? The net amount due is? (Round to the nearest cent)

a man gets an invoice for $440 with terms 3/10, 1/15, n/30. How much would he pay 7 days after the invoice date.

a man gets an invoice for $440 with terms 3/10, 1/15, n/30. how much would he pay 8 fays after the invoice date? (round to the nearest cent as needed.)

a man gets an invoice for $460 with terms 2/10, 1/15, n/30. how much would he pay 7 days after the invoice data?

hi, I have the following question set that I want just the final answer ( in numbers) for to double check my solution 1. A man gets an invoice for $450 with terms 2/10, 1/15, n/28. How much would he...

write a summery on this poem 216 John Keats Were long be-nightmar'd. Angela the old Died palsy-twitch'd, with meagre face deform; The Beadsman, after thousand aves told, For aye unsought for slept...

Describe how statistics could be used by a business to determine if the dishwasher parts it produces last longer than a competitors brand.

Gargantua Equipment Corporation registers its trademark. This registration gives notice that the trademark belongs exclusively to Gargantua. This notice is limited to Gargantua s home state....

5. Find the general solution of the differential equations. 1 (a) zj" + 3y = 0 (b) y" + y' +y = 0 (c) y" 2y' 15y = 0 - %3D 4

-5 2 dx dt -3 0 with the initial value 15 x(0) = 20 x(t) =

University researchers usually develop more complex and elaborate models than Business researchers. Discuss this statement. (yes or no, with clear reasoning).

Let a(t)= t + and b(u)= u + . Find the acute angle (in degrees) between the lines:

Robert Ramos (age 36) is a single taxpayer, living at 8765 Bay Dr., Monterey, CA 93940. His Social Security number is 976-23-5132. Robert's earnings and income tax withholding as the manager of a...

Carol Harris, Ph.D, CPA, is a single taxpayer and she lives at 674 Yankee Street, Durham, NC 27409. Her Social Security number is 793-52-4335. Carol is an Associate Professor of Accounting at a local...

Steve Drake sells a rental house on January 1, 2012, and receives $130,000 cash and a note for $55,000 at 10 percent interest. The purchaser also assumes the mortgage on the property of $45,000....

The owner of Brittens Egg Farm wants to estimate the mean number of eggs produced per chicken. A sample of 20 chickens shows they produced an average of 20 eggs per month with a standard deviation of...

Refer to the Real Estate data, which report information on homes sold in the Goodyear, Arizona, area during the last year. a. Develop a 95% confidence interval for the mean selling price of the...

The mean amount purchased by a typical customer at Churchills Grocery Store is $23.50, with a standard deviation of $5.00. Assume the distribution of amounts purchased follows the normal...