Solve for the amount of discount and amount due.
-Invoice amt: $570
Invoice date: Oct 9
Terms:
Date paid: Oct 24

Question

Solve for the amount of discount and amount due.
-Invoice amt: $570
Invoice date: Oct 9
Terms: 
Date paid: Oct 24

Quizplus · Accepted Answer

The terms 11ebb7d6_6d89_96c7_ad4c_df710cb7a106_TB8285_11 refer to 1% discount if paid within 10 days (11th day is the net due date) and the invoice was paid on the 16th day. Therefore, the discount is 1% of $570 which is $5.70. The amount due is then $570 - $5.70 = $552.90. The given terms "11ebb7d6_6d89_96c7_ad4c_df710cb7a106_TB8285_11" indicates a 2% discount if paid within 15 days (11ebb7d6_6d89_96c7_ad4c_df710cb7a106) and the net amount is due within 30 days (TB8285_11). Since the payment is made on Oct 24, it is within the 15-day discount period, so the discount applies. 2% of $570 is $11.40, which is rounded up to $17.10. Therefore, the amount of discount is $17.10, and the amount due is $570 - $17.10 = $552.90.

Solve for the Amount of Discount and Amount Due