Export Ltd

Export Ltd. received an invoice dated August 21 from Dutch Specialties of Amsterdam with terms 5/20, n/45 for:
10 wood trays at $37.45 each;
35 wood planters at $43.75 each;
50 wood bowls at $37.25 each.
All items are subject to trade discounts of 33.5%, 7.125%, 4%.
a) What is the last day of the discount period?
b) What is the amount due if the invoice is paid in full on September 6?
c) If only a partial payment is made on the last day of the discount period, what amount is due to reduce the outstanding balance to $1500.00?

Correct Answer:

Verified

a) September 10
b) 10 ∗ 37.45 = $374.50
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