OBJECTIVE 6 C, Determine the credit given for partial payment, balance due, and cash discount on these invoices

Finance Dec 01, 2020

OBJECTIVE 6 C, Determine the credit given for partial payment, balance due, and cash discount on these invoices. Invoice Amount Partial Payment Credit Given Balance Due Cash Discount Terms $1,189.40 2/10, n/30 $290.00 13. 14. 15. $1,987.00 3/10, n/45 $1,400.00 16. 17. 18.

Expert Solution

rate positively .

			i=refer notes	ii-invoice amount-i	iii=i-partial payment
Invoice amount	Term	Partial payment	credit given	Balance due	Cash discount
1,189.40	2/10, n/30	290.00	295.92	893.48	5.92
1,987.00	3/10, n/45	1,400.00	1,443.30	543.70	43.30

13. = 290/98%
16 = 1400/97%

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