Import Exclusives Ltd. received an invoice from Dansk Specialties of Copenhagen with terms 5/20 R.O.G. for the items listed below. 110 teak trays at $31.10 each 30 teak buckets at $67.90 each 35 teak salad bowls at $53.20 each All items are subject to trade discounts of 30%, 6%, and 6%. (a) If the shipment was received on June 25, what is the last day of the discount period? (b) What is the amount due if the invoice is paid in full on July 12? (c) If only a partial payment is made on the last day of the discount period, what amount is needed to reduce the outstanding balance to $2800?

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Your Question:
Import Exclusives Ltd. received an invoice from Dansk Specialties of Copenhagen with terms 5/20 R.O.G. for the items listed below.
110 teak trays at $31.10 each
30 teak buckets at $67.90 each
35 teak salad bowls at $53.20 each
All items are subject to trade discounts of 30%, 6%, and 6%.
(a) If the shipment was received on June 25, what is the last day of the discount period?
(b) What is the amount due if the invoice is paid in full on July 12?
(c) If only a partial payment is made on the last day of the discount period, what amount is needed to reduce the outstanding balance to $2800?
Transcribed Image Text:Import Exclusives Ltd. received an invoice from Dansk Specialties of Copenhagen with terms 5/20 R.O.G. for the items listed below. 110 teak trays at $31.10 each 30 teak buckets at $67.90 each 35 teak salad bowls at $53.20 each All items are subject to trade discounts of 30%, 6%, and 6%. (a) If the shipment was received on June 25, what is the last day of the discount period? (b) What is the amount due if the invoice is paid in full on July 12? (c) If only a partial payment is made on the last day of the discount period, what amount is needed to reduce the outstanding balance to $2800?
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