Awesome Software purchases programs from Apple Inc., with an invoice price of $14,900 and terms of sale of 3/15, n/30. What is the net amount due on the order if a partial payment of $2,000 is made on the 15th day?

Question

Quizplus · Accepted Answer

The terms of sale 3/15, n/30 mean that Awesome Software can take a 3% discount if they pay within 15 days. The discount on $14,900 is $447 ($14,900 * 0.03 = $447). The invoice amount after the discount is $14,453 ($14,900 - $447). After making a partial payment of $2,000 on the 15th day, the net amount due is $12,453 ($14,453 - $2,000). However, none of the provided options exactly match this calculation, suggesting a possible mistake in the calculation or interpretation of the options. Given the closest option to the correct calculation process is B, it's selected based on the understanding that the provided options and the calculation might have a discrepancy.

Awesome Software Purchases Programs from Apple Inc