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A Certain Canadian Company Received an Invoice Dated March 20

Question 148

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A certain Canadian company received an invoice dated March 20 from their Cambodian supplier for the following shipment of goods that they received on April 1.
2000 jeans at $25.60 each;
3050 shirts at $15.25 each;
1000 men hats at $2.50 each;
1500 women hats at $3.00 each.
The terms of the invoice stated 4/20, n/45 ROG and all items are subject to trade discounts of 15%, 5%.
a)What is the last day of the discount period?
b)What is the amount due if the invoice is paid in full on April 19?
c)If only a partial payment is made on the last day of the discount period, what amount is due to reduce the outstanding balance to $25 000.00?

Correct Answer:

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a) April 20
b) 11ecab71_8a4e_6...

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