The local zoo buys hay from a supplier with an invoice amount of $17,220. The terms of the sale are 5/22, n/30. What is the net amount due on the order if the bill is paid by the 22nd day?

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The terms 5/22, n/30 mean that the buyer can take a 5% discount if the invoice is paid within 22 days. To find the net amount due with the discount: $17,220 * 0.05 = $861 (discount amount). Then, $17,220 - $861 = $16,359.

The Local Zoo Buys Hay from a Supplier with an Invoice