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Calculate (A)cash Discount and (B)net Amount Paid

Question 92

Short Answer

Calculate (A)cash discount and (B)net amount paid:
 Gross Invoice  (including freight)  Freight  Date of  Invoice  Terms  Date of  Payment  Cash  Discount  Net Amount  Paid $1,800$508/112/10,1/15n/30122 (A)  (B) \begin{array}{|c|c|c|c|c|c|c|}\hline \begin{array}{l}\text { Gross Invoice } \\\text { (including freight) }\end{array} & \text { Freight } & \begin{array}{l}\text { Date of } \\\text { Invoice }\end{array} & \text { Terms } & \begin{array}{l}\text { Date of } \\\text { Payment }\end{array} & \begin{array}{l}\text { Cash } \\\text { Discount }\end{array} & \begin{array}{l}\text { Net Amount } \\\text { Paid }\end{array} \\\hline \$1,800& \$ 50 & 8 / 11 & \begin{array}{l}2 / 10,1 / 15 \\n / 30\end{array} & 122 & \text { (A) } & \text { (B) } \\\hline\end{array}

Correct Answer:

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A. $17.50;...

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