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Maplewood Supply received a $5,380 involce dated April 15, 2015
Maplewood Supply received a $5,380 involce dated April 15, 2015. The $5,380 Included $380 freight. Terms were 2/10, 130, 160. (8 more than one discount, assume date of last discount) a. If Maplewood pays the invoice on April 27. what will it pay? Payable amount b. If Maplewood pays the invoice on May 21, what will it pay? Payable amount
A manufacturer of skateboards offered a 6/3/2 chain discount to many customers. Bob's Sporting Goods ordered 15 skateboards for a total $626 list price. a. What was the net price of the skateboards? (Do not round Intermediate calculations. Round your final answer to the nearest cent.) Net price b. What was the trade discount amount? (Do not round intermediate calculations. Round your final answer to the nearest cent.) Trade discount
Expert Solution
Maplewood Supply
Invoice paid on April 27 :Invoice paid within 30 days discount period
So Payable amount will be = 5380 - ( 5380 - 380 ) x 1% = 5380 - 50 = $5330
Invoice paid on May 27 : Invoice paid after discount period
So Payable amount will be full amount = $5380
Bob's Sporting Goods
Requirement a
Discount = ( 1 - 0.06 ) x ( 1 - 0.03 ) x ( 1 - 0. 02 ) = 0.893564
Net Price = $626 x 0.893564 = $559.37
Requirement b
Trade Discount = $626 - $559.37 = $66.63
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