Determine the amount paid to settle the following invoice. Invoice amount = $4,602.00 Payment terms = 5/20, E.O.M. = June 11, 2009 Date of Invoice Date Goods Received = June 15, 2009 Date Paid = July 22, 2009 %3D (Do not enter the dollar sign, $, in your answer.) (When entering the date the format must be January 1, 2012) What is the first day for taking the discount? What is the last day for taking the discount? What is the amount due if the invoice is paid on the last day for taking the discount?

Determine the amount paid to settle the following invoice. Invoice amount = $4,602.00 Payment terms = 5/20, E.O.M. = June 11, 2009 Date of Invoice Date Goods Received = June 15, 2009 Date Paid = July 22, 2009 %3D (Do not enter the dollar sign, $, in your answer.) (When entering the date the format must be January 1, 2012) What is the first day for taking the discount? What is the last day for taking the discount? What is the amount due if the invoice is paid on the last day for taking the discount?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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