« previous next »

Author Question: Describe how to find the invoice price of an item that is subject to a discount ... (Read 86 times)

ARLKQ

  • Hero Member
  • *****
  • Posts: 571
on: Jun 24, 2018
Describe how to find the invoice price of an item that is subject to a discount series.

Question 2

An invoice for 1,500 dated December 14 has terms of sale of 3/10, 2/20, n/30. What is the amount of the cash discount and cash price if the invoice is paid on December 28?


helenmarkerine

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jun 24, 2018
Answer to Question 1

The first discount is calculated based on the list price of the item. Then the second discount is based on the remainder after deducting the first discount. The third discount is based on the remainder after deducting the second discount, and so on.

Answer to Question 2

30, 1,470


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Nursing student will find it funny Nursing student will find it funny
How to find the derivative of a function when the base and exponent contain a variable x^x How to find the derivative of a function when the base and exponent contain a variable x^x
How to find the inverse of any function (Part 2) How to find the inverse of any function (Part 2)
How to find the domain and range of natural logarithmic functions (Part 1) How to find the domain and range of natural logarithmic functions (Part 1)
How to find the equation of a line that is perpendicular to a line passing through a point How to find the equation of a line that is perpendicular to a line passing through a point
Control you knife with one hand and hold the item being cut with the other (3 of 3) Control you knife with one hand and hold the item being cut with the other (3 of 3)
Video: DNA fingerprinting Animation

For a complete list of videos, visit our video library