3. An invoice, dated May 8, for $549.38 has terms of 3/15, 2/20, 1/30, n/45. If you make a payment on June 3, what amount should you pay? Round to the nearest cent.
3. An invoice, dated May 8, for $549.38 has terms of 3/15, 2/20, 1/30, n/45. If you make a payment on June 3, what amount should you pay? Round to the nearest cent.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Step 1: Introduction to Average Due Date
Average due date is the date on which if payment is made then interest paid and received will be nullify and there will be win win situation for receivable and payable.
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