Question: An invoice dated July 23rd for $2,500 is subject to a chain trade discount of 40/15. Credit terms are 5/10, 2/30, N/45. The invoice is

An invoice dated July 23rd for $2,500 is subject to a chain trade discount of 40/15. Credit terms are 5/10, 2/30, N/45. The invoice is paid in full on August 15th. The item is priced with a 60% markup based on selling price. The item is later sold during a sale where the price was markdown by 20%. Determine the sale price.

Calculate the net price after the trade discounts have been deducted.

Calculate the amount submitted in payment of the invoice

Calculate the selling price

Calculate the sale price.

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