Drill Problem 7-16 (Algo) [LU 7-2 (1)] Complete the following by calculating the cash discount and net amount paid: (If more than one discount, assume date of last discount.) $ Gross amount of invoice (freight charge already included) 850 Freight charge None Date of invoice 8/8 Terms of invoice 3/10, 2/15, n/30 Date of payment 8/20 Cash discount Net amount paid

Complete the following by calculating the cash discount and net amount paid: (If more than one discount, assume date of last discount)