Scarlet Company received an invoice for $80,000.00 that had payment terms of 3/5 n/30. If it made a partial payment of $16,300.00 during the discount period, calculate the balance of the invoice. $0.00 Round to the nearest cent Questions
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- Jangles Corporation received a $20,000 invoice dated March 3. The Cash discount terms were 3/10, n/30. On March 10, Jangles sent a $12,000 partial payment. What credit should Jangles receive for this partial payment?On March 19 Gunderson’s Hardware received a $20,800 invoice dated March 15. Cash discount terms were 3/10, n/30. On March 24, Gunderson sent an $8,320 partial payment. What is the outstanding amount due on this invoice? What is the outstanding on this invoice?You receive an invoice for $17,400 with terms of 3/15, n/60. The supplier has a policy of allowing a cash discount for partial payments and you pay $8,000 within the discount period. Calculate the amount of credit you will receive for this payment.
- An invoice dated 15th March 2021 for RM750 was paid on the 31st March 2021. If the trade discount was 15% and the cash discount terms were 8/10, 5/30 and n/30, find:a) The trade discount offered.b) The cash discount offered.c) The amount paid.Scarlet Company received an invoice for $65,000.00 that had payment terms of 1/5 n/30. If it made a partial payment of $17,600.00 during the discount period, calculate the balance of the invoice. Scott received an invoice for $5,000 that had payment terms of 2/5 n/30. She made a partial payment of $2,500 during the discount period. a. Calculate the amount credited. Round to the nearest cent b. Calculate the balance on the invoice after the partial payment was made. Round to the nearest centFind the cash discount and the net price on an invoice for RM580 dated April 17 with terms of 3/10, n/30 if the bill was paid April 26. Draw the “timeline” stated the initial date, the due date, and the day receives cash discount.
- Sunshine Service Center received a 120-day, 6% note for $40,000, dated April 12 from a customer on account. Assume 360 days per year. a. Determine the due date of the note. b. Determine the maturity value of the note. When required, round your answers to the nearest dollar.$fill in the blank df5724f79f8d02f_2 c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank. Aug. 10 Cash Cash Note Receivable Note Receivable Interest Revenue Interest RevenueWhat payment should be made on an invoice for $500 dated November 16, carrying terms 4/10, net 30?Party Pals Company received an invoice dated Oct 18, 2023, for $ 7,800 with trade discount series of 25% and 15%. Payment terms are 5/10 2/30 , n / 60 . a) What is the invoice amount?b) What are the last days of the two discount periods?c) How much should be paid on Oct 26 to reduce the unpaid balance to $ 3,000.00? d) How much should be paid on Nov 10 to reduce the unpaid balance by $1,500.00? e) What was the account balance on after the Nov 10 payment?
- PLEASE SHOW ALL WORK 6. You receive an invoice for $18,300 with terms of 5/15, n/60. If the supplier has a policy of allowing a cash discount for partial payments and you pay $11,500 within the discount period, calculate the amount of credit you will receive for this payment.Amount credited = Amount paidComplement of cash discount rate = $11,500 7. For terms of 8/10, n/60 determine the annual rate you, in effect, pay the supplier if you fail to pay the invoice at the end of the discount period. Express the rate with 2 decimal places. 8. An invoice for $75.20 has terms of 3/10, 1/30, n/60. If you make payment 25 days after the invoice date, what amount should you pay? 9. You purchase goods on an invoice dated July 5 with terms of 4/15, n/45 ROG. If you receive the goods on July 23, calculate(a) the last day of the discount period, and (b) the last day of the credit period.b. Last day of credit period:buying and sellingWhat is the total cash discount if an invoice dated March 31 for P 15,000 with a payment terms of 3/20; 1/30; n/60 is paid in full on April 20?A Scarlet Company received an invoice for $71,000.00 that had payment terms of 4/5 n/30. If it made a partial payment of $14,700.00 during the discount period, calculate the balance of the invoice. B Three invoices for the amounts of $34,800, $24,000, and $41,550 were received on August 25, 2014, September 24, 2014, and October 17, 2014, respectively. If the payment terms are 3/7, 2/30, n/60, calculate the amount that must be paid on October 24, 2014 to settle all three invoices.