Unit7Exam.docx - Question 12 1 Determining Due Dates and Discount Amounts Info.com frequently purchased merchandise on account When it receives an

# Unit7Exam.docx - Question 12 1 Determining Due Dates and...

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Question 12 1.Determining Due Dates and Discount AmountsInfo.com frequently purchased merchandise on account. When it receives an invoice, a clerk puts a processing stamp on the invoice indicating the due date, the amount of discount (if any) and the amount to be paid. The following invoices were received during April:Instructions:Use the form that follows to complete this question. The first invoice has been completed as an example.For each invoice do the following:1. Determine the due date. Assume that Info.com always pays invoices within the discount period.2. Compute the discount amount, if any.3. Compute the amount to be paid. Invoice Number Invoice Date Credit Terms Invoice Amount Due Date Discoun t Amount Amount to be Paid 1. 7878 Apr. 5 3/10, \$5,000 Apr. 15 \$150 \$4850
n/30 2. 9088 Apr. 7 2/10, n/30 \$4,000 Apr. 17 \$80 \$3,920 3. 87789 Apr. 12 2/10, n/30 \$2,000 Apr. 22 \$40 \$1,960 4. 44654 Apr. 16 n/45 \$450 \$450 5. 2326 Apr. 23 2/10, n/30 \$6,000 May 3 \$120 5,880 6. 8979 Apr. 27 n/30 \$600 \$600 Question 13 1.Recording Purchases Transactions.Click Photo, a retail merchandising store, had the following purchases transactions in March:

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