An invoice dated March 12 in the amount of $50,000 is received by Reliance Corporation on March 16. Cash discount terms on the i

Question

2 years ago

11

An invoice dated March 12 in the amount of $50,000 is received by Reliance Corporation on March 16. Cash discount terms on the i

nvoice are 3/10, n/30. On March 16 Reliance mails a check in the amount of $8,000 as partial payment on the invoice. The outstanding balance owed on the invoice is:

Mathematics

1 answer:

Ymorist [56] · Answer 1 · 2022-05-15T19:20:54+03:00

Ymorist [56]2 years ago

8 0

Answer: $42,000

Step-by-step explanation: since he didn't pay the full amount on the invoice within the discount validity time, he would not be eligible for any discount. Hence amount left unpaid on the invoice = $50,000 - $8,000 = $48,000