   Chapter 7.IV, Problem 8RE ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

# For the following transactions, calculate the credit given for the partial payment and the net amount due on the invoice. Amount of Terms of Partial Credit for Net Invoice Sale Payment Partial Payment Amount Due 5 , 998.20 4 / 15. n / 60 3 , 200 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

To determine

To calculate: The credit for partial payment and net amount due if amount of invoice is $5,998.20, 4% of cash discount is offered when the invoice is paid within 15 days, n of cash discount is offered if the invoice is paid within 60 days and partial payment is$3,200.

Explanation

Given Information:

The amount of invoice is $5,998.20, 4% of cash discount is offered when the invoice is paid within 15 days, n of cash discount is offered if the invoice is paid within 60 days and partial payment is$3,200.

Formula used:

Follow the steps to compute the partial payment due and net amount due.

Step 1: The partial payment due is computed by dividing the partial payment by complement of the cash discount rate.

Partial payment due=Partial payment100%Cash discount

Step 2: The net amount due is computed by subtracting partial payment due from the net price.

Net amount due=Net pricePartial payment due

Calculation:

Consider that the amount of invoice is $5,998.20, 4% of cash discount is offered when the invoice is paid within 15 days, n of cash discount is offered if the invoice is paid within 60 days and partial payment is$3,200

### Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

#### The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

#### Find f g h. 42. f(x) = tan x, g(x)=xx1,h(x)=x3

Single Variable Calculus: Early Transcendentals

#### For f(x)=exx,f(x)= a) ex b) xex1x2 c) exxexx2 d) xexxx2

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th

#### In Exercises 114, determine whether the statement is a proposition. x+1=1

Finite Mathematics for the Managerial, Life, and Social Sciences 