Encino Ltd. received an invoice dated February 16 for $520.00 less 25%, 8.75%, terms 3/15 E.O.M. A cheque for $159.20 was mailed by Encino on March 15 as payment of the invoice. How much does Encino still owe? NOTE: Don't forget the units, round to 2 decimal places and DO NOT use any spaces in your answer.

College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
ChapterD: Notes Payable And Notes Receivable
Section: Chapter Questions
Problem 2P
icon
Related questions
Question
100%
Encino Ltd. received an invoice dated February 16 for $520.00 less 25%, 8.75%,
terms 3/15 E.O.M. A cheque for $159.20 was mailed by Encino on March 15 as p
payment of the invoice. How much does Encino still owe?
NOTE: Don't forget the units, round to 2 decimal places and DO NOT use any
spaces in your answer.
Transcribed Image Text:Encino Ltd. received an invoice dated February 16 for $520.00 less 25%, 8.75%, terms 3/15 E.O.M. A cheque for $159.20 was mailed by Encino on March 15 as p payment of the invoice. How much does Encino still owe? NOTE: Don't forget the units, round to 2 decimal places and DO NOT use any spaces in your answer.
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Accounting for Cash and cash equivalents
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Quickbooks Online Accounting
Quickbooks Online Accounting
Accounting
ISBN:
9780357391693
Author:
Owen
Publisher:
Cengage