If an invoice for $1000 (no shipping) is dated July 14, for goods recieved on July...

 

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If an invoice for $1000 (no shipping) is dated July 14, for goods recieved on July 20, has terms 3/15, n/30: a) Find the last day of the discount period b) If a payment of $300 is made on the last day of the discount period, how much is credited to the invoice. c) When is final payment due, and what is the outstanding balance due on that date? d) Explain how this would be different if the terms were 3/15, n/30, ROG If an invoice for $1000 (no shipping) is dated July 14, for goods recieved on July 20, has terms 3/15, n/30: a) Find the last day of the discount period b) If a payment of $300 is made on the last day of the discount period, how much is credited to the invoice. c) When is final payment due, and what is the outstanding balance due on that date? d) Explain how this would be different if the terms were 3/15, n/30, ROG

Answer rating: 100% (QA)

a The discount period is determined by the terms 315 n30 The first number 3 represents the number of days within which the buyer can take advantage of ... View the full answer