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Unformatted text preview: February March
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23 3D 2? 23 23 3E] 31 2:0 3:0 13:. 24:13l 2:0 3:0 13:. 24:0 31 :0 Find the ﬁnal discount date and the net payment date for an invoice dated June 12 with terms
of} ' 15. net 20. The ﬁnal discount date is 45 ' 2]" .
[Tvpe whole numbers.) The net payment date is I" ' 2 .
[Tvpe whole numbers.) Find the ﬁnal discount date and the net pavment date for an invoice dated Julv 5 AS OF Julv 13
with terms ofS ' 15. net 20. The ﬁnal discount date is I" ' 28 .
(Tvpe whole numbers.) The net payment date is 8 ' 2 .
(Type whole numbers.) Edusoft an. offers customers a trade discount of 12 ' ".I‘ ' 8 on all in stock products with terms
of net 30. Find the net price for products with a total list price of $815.88 if the invoice was paid
within 20 davs of the invoice date. The purchaser will receive the trade discount. The complements of the individual discounts are 0.88. 0.93. 0.92. The net cost equivalent for
the series is 0.252928. The list price is $815.88 and the net cost equivalent for the series is 0.252928. So the net price
is $014.30. An invoice is dated June 21‘ with terms 5 ' 18 EOEI. Find the ﬁnal discount date and the net
pavment date. The net pavment date is 28 davs after the ﬁlal discount date. L'sing EDIE1 billing the date used to calculate the ﬁnal discount date and the net pavment date is
June 38. When the invoice date is late in the month suppliers give customers an extra month to meet the terms of the invoice. The ﬁrst invoice date in the month on which a customer will get the extra
month is the 2oth. Thus the ﬁnal discount date is August 18.
The net pavment date is 28 davs past August 18. This is September T". So if an invoice is dated June 2'." with terms 5 ' 18 EOE1. the ﬁnal discount date is August 18 and
the net payment date_ 28 davs after the ﬁnal discount date_ is September '1'. An invoice is dated Julv 24 with terms 5 ' 1E1  28 x. Find the ﬁnal discount date and the net
pavment date. The net pavment date is 28 davs after the ﬁnal discount date. The terms '5 ' 18 28 x' means that the customer has 18 days ph1s an additional 28 davs or 38
davs altogether to receive the cash discount. The ﬁnal discount date is 38 davs past Julv 24. lulv 24  3E1 davs is 23 davs past the end oflulv since 11113: has 31 davs.
Thus the ﬁnal discount date is August 23. The net pavment date is 2G davs past August 23. August 23  2E1=August 31 12 This is 12 davs past the end of August or September 12. So if an invoice is dated Julv 24 with terms 5 ' 18 2D :9; the ﬁnal discount date is August 23 and
the net pavment date. 28 davs after the ﬁnal discount date. is September 12. The Coffee Comer receives an invoice amounting to $344.60 with terms of S ' 11. net 42. The
invoice is dated 3 ' 17' AS OF 9 ' 9. If a partial payment of $269.60 is made on 9 ' 17'. ﬁnd the
credit for the partial payment and the balance due on the invoice. The partial payment was made in time to receive the discount. The formula to calculate the credit C. for a partial payment of $P receiving a discount of D33
is c=P(1—D1oo)_ Applying the formula C =P ' (1 D ' 166) with P = $269.66 and a discount of 5%. the credit is
$233.29. Since the customer receives a credit of $233.29 on an invoice amount of $344.66. the remaining
balance is $69.81. ...
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This note was uploaded on 12/30/2009 for the course MATH 1220 taught by Professor Roarty during the Spring '09 term at Metropolitan Community College Omaha.
 Spring '09
 Roarty
 Math

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