Question: Elite Manufacturing received an invoice dated Jan 10th. The invoice amount is $35,000 less 25% and 10%, with terms 4/20, n/45. a) What date is

Elite Manufacturing received an invoice dated Jan 10th. The invoice amount is $35,000 less 25% and 10%, with terms 4/20, n/45.

  • a) What date is the cash discount valid until?
  • b) What date is the credit period valid until?
  • c) How much will Elite have to pay if it does not take advantage of the cash discount?
  • d) How much will Elite have to pay if it pays within the cash discount period?

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