Answered: An invoice dated June 27 for P20, 850…

An invoice dated June 27 for P20, 850 carried a cash discount of 5/30. If this invoice is paid on July 25, how much should be the payment?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 17P

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1. An invoice dated June 27 for P20, 850 carried a cash discount of 5/30. If this invoice is paid on July 25, how much should be the payment?

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