An invoice dated April 18 was received by Ralphs Supply with an invoice amount of $6,500, and a freight charge of $500, FOB Shipping Point. Terms of the invoice were 4/10, 3/30, n/60. Assuming that Ralphs pays the bill by April 30, what will be the total payment?

Chapter 7 Assignment 10 points Due by the end of Sunday, 5/14 To be eligible for partial points you must show your work! Melissa, of Melissa's Lawn and Landscaping Service, needs to replace her mowers. She has ordered four new gas mowers, at $499 each, and a negotiated Trade Discount Rate of 9%, with terms of 2/10 EOM, and FOB Shipping Point. The seller has agreed to prepay the shipping charge of $80, which is not included in the invoice amount. The invoice from the manufacturer is dated April 26. Determine: A) By what date does Melissa have to pay in order to be able to take the cash discount? B) What is the payment amount assuming that Melissa pays before the end of the discount period? Answers A) By 10th of June B) Total payment = 4* 445.0082 = $1780.0328 Add shipping charges of $80, so = $1780.0328 + $80 = $1860.0328 Explanation: A By 10th of June if Melissa have to pay in order to be able to take the cash discount as date of invoice is after 25th April B 9% trade discount means, cost for mellissa per mower = 0.91 * 499 = $454.09 Also, if she pays within discount period then she gets 2% discount She will pay = 0.98 * $454.09 = $445.0082 hence Total payment = 4* 445.0082 = $1780.0328 Add shipping charges of $80, so = $1780.0328 + $80 = $1860.0328