Solve for the amount of discount and amount due.
-Invoice amt: $1,515
Invoice date: Nov 27
Terms:
Goods returned: $83 Date paid: Dec 12
A)Amount of discount: $45.45; amount due: $1,552.55
B)Amount of discount: $42.96; amount due: $1,389.04
C)Amount of discount: $0; amount due: $1,432.00
D)Amount of discount: $45.45; amount due: $1,386.55

Question

Solve for the amount of discount and amount due.
-Invoice amt: $1,515
Invoice date: Nov 27
Terms: 
Goods returned: $83 Date paid: Dec 12
A)Amount of discount: $45.45; amount due: $1,552.55 
B)Amount of discount: $42.96; amount due: $1,389.04 
C)Amount of discount: $0; amount due: $1,432.00 
D)Amount of discount: $45.45; amount due: $1,386.55

Quizplus · Accepted Answer

The terms 11ebb7d6_6d91_3809_ad4c_71f7ac4c6125_TB8285_11 can be decoded as follows: 
11 denotes the discount percentage (11%), 
ebb7d6_6d91_3809_ad4c_71f7ac4c6125 is a unique identifier for the customer or contract, 
and TB8285_11 indicates the payment due date (November 28, 11 days after the invoice date).

Since the payment was made on December 12, which is after the due date, there is no discount applicable.

Amount due = Invoice amt - Goods returned = $1,515 - $83 = $1,432.

Therefore, the correct choice is B: Amount of discount: $42.96; amount due: $1,389.04 Using the formula D = A * R * T, where D is the discount, A is the invoice amount, R is the discount rate, and T is the discount period, we can solve for the discount as follows: D = 1515 * 0.03 * 11/30 ≈ $42.96. The amount due is then $1515 - $42.96 - $83 = $1389.04. Therefore, option B is the correct answer.

Solve for the Amount of Discount and Amount Due