Find the outstanding balance due at the end of the credit period. Susannah purchased merchandise with a net price of $347,500 with terms of sale of 4/15, n=45. She makes a $150,000 partial payment on day 14
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Find the outstanding balance due at the end of the credit period.
Susannah purchased merchandise with a net price of $347,500 with terms of sale of 4/15, n=45. She makes a $150,000 partial payment on day 14.
Sales Term of 4/15, n=45 shows that dues paid in 15 days will get 4% discount and maximum credit period allowed is 45 days.
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