An invoice for $13,600 dated May 18 has terms 2/10, ROG
a. When does the discount period end?
b. When does the credit period end?
c. What payment on May 30 will reduce the outstanding balance by $5000?
d. Instead of the payment in Part c), $5000 is paid on May 30. What will be the balance owed?
e. Instead of the payment in Part c) and d), what payment on June 5 will reduce the outstanding balance to $5000?

Question

An invoice for $13,600 dated May 18 has terms 2/10, ROG 
a. When does the discount period end?
b. When does the credit period end?
c. What payment on May 30 will reduce the outstanding balance by $5000?
d. Instead of the payment in Part c), $5000 is paid on May 30. What will be the balance owed?
e. Instead of the payment in Part c) and d), what payment on June 5 will reduce the outstanding balance to $5000?

Quizplus · Accepted Answer

The Answer of An invoice for $13,600 dated May 18 has terms 2/10, ROG 
a. When does the discount period end?
b. When does the credit period end?
c. What payment on May 30 will reduce the outstanding balance by $5000?
d. Instead of the payment in Part c), $5000 is paid on May 30. What will be the balance owed?
e. Instead of the payment in Part c) and d), what payment on June 5 will reduce the outstanding balance to $5000?

An Invoice for $13,600 Dated May 18 Has Terms 2/10