Exam 7: Discounts: Trade and Cash

Jones Advertising Agency received a $3,000 invoice dated June 8. Terms were 2/10, 1/15, n/60. On June 22 Jones Advertising sent a $1,600 partial payment. What credit should Jones Advertising receive? What is Jones's outstanding balance? Round to the nearest cent.

A local college bookstore paid a net price of $12,500 for textbooks for the coming semester. The publisher offered a trade discount of 20%. The publisher's original list price was:

A manufacturer of ice skates offered a chain discount of 7/5/1. Bobby's Sport Shop ordered 30 pairs of skates that had a list price of $925. What was the amount of the trade discount?

If a manufacturer's list price is $800 and Bill's Outlet buys the goods for $650, what is the trade discount percent? (Round answer to the nearest hundredth percent.)

J.C. Penney of Boston sold office equipment for $12,000 to Lee's of San Diego. Terms of the sale are 3/10, n/30 FOB Boston. J.C. Penney has agreed to prepay freight $300. Assuming Lee's pays within the discount period, how much will Lee's pay J.C. Penney?

200 days from March 3 is:

A radio with a net price of $700 and a trade discount rate of 30% has a list price of $1,000.