Compute the discount date, the due date, the amount of discount and amount of the remittance if the required remittance is paid within the discount period.Ray Marshall is a purchasing agent for East Coast Electric and tries to take advantage of all cash discounts on major purchases. On July 7 (invoice date) he purchased parts for service vehicles. The parts cost $3,824.77, but $214.40 worth were returned because they were incorrect. The terms from the supplier were 1/10, net 25.

Question

Compute the discount date, the due date, the amount of discount and amount of the remittance if the required remittance is paid within the discount period.Ray Marshall is a purchasing agent for East Coast Electric and tries to take advantage of all cash discounts on major purchases. On July 7 (invoice date) he purchased parts for service vehicles. The parts cost $3,824.77, but $214.40 worth were returned because they were incorrect. The terms from the supplier were 1/10, net 25.
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Quizplus · Accepted Answer

The Answer of Compute the discount date, the due date, the amount of discount and amount of the remittance if the required remittance is paid within the discount period.Ray Marshall is a purchasing agent for East Coast Electric and tries to take advantage of all cash discounts on major purchases. On July 7 (invoice date) he purchased parts for service vehicles. The parts cost $3,824.77, but $214.40 worth were returned because they were incorrect. The terms from the supplier were 1/10, net 25.
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Compute the Discount Date, the Due Date, the Amount of Discount