Homework Answers
Answer: $99,830
Working:
- Three invoices amount:$34,300 $26,000 $40,050
- Payment terms =3/7, 2/30, n/60
- Discount terms has been expired for first invoice
- Discount will be available for second invoice as paid within 30 days
- No discount available on third invoice
Hence amount payable
- Total three invoices amount =34,300+26,000+40,050=$100,350
- Less: Discount @2% on $26,000=520
- Total amount paid = 100,350-520=$99,830
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