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Question in my practice sheet for a business course.

Sartorial Men's Wear receives a shipment of fall

fashions and an invoice for $8000 on September 1, with terms of 3/10, n/20

a) When will the store have to pay the invoice to get the discount?

b) How much will the discount be?

c) If Rita doesn't pay the invoice within the discount period, when does she need to pay it?

I don't know the answers, please help.

Top Answer

a) The store has 10 days to offset the full invoice amount day one being first of... View the full answer

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