Question: Drill Problem 7-16 [LU 7-2 (1)] Complete the following by calculating the cash discount and net amount paid: (If more than one discount, assume date

Drill Problem 7-16 [LU 7-2 (1)] Complete the following by calculating

Drill Problem 7-16 [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) Freight charge None Net amount paid Date of invoice 8/3 Terms of invoice 4/10, 2/15, n/30 Date of payment 8/15 Cash discount $ $650

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