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TEA [102]
3 years ago
8

Joanne's Dress Shop received an invoice dated July 25 for $1,400, with terms of 2/10, 1/15, n/60. On August 8, Joanne's Dress sh

op sent a partial payment of $750. The actual amount that should be credited is
Mathematics
2 answers:
Masja [62]3 years ago
6 0
August 8 is Day 15 and falls under the 1% discount rule.

750/0.99 = 757.58 from the balance, and 1400.00 - 757.58 = 642.42 is due by day 60.
DedPeter [7]3 years ago
4 0

Answer:

The actual amount that should be credited is 757.57.

Step-by-step explanation:

Joanne's Dress Shop received an invoice dated July 25 for $1,400 with terms of 2/10, 1/15, n/60.

This means 2% discount on payment within 10 days

1% discount on payment within 15 days

of full payment within 60 days.

Joanne sent a partial payment of $750 on August 8th. that is within 15 days, so she got the discount of 1% on her payment.

Let the actual amount was paid be x

99% of x = 750

\frac{99}{100} x = 750

x = \frac{750}{0.99} = 757.57

The actual amount that should be credited is 757.57.

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