A computer assembly company received a shipment of monitors from its suppliers with an invoice of $ 185,600 dated October 20, 2014 with payment terms 3/10, 2/30, n/45. a) If the company paid $ 75,500 on October 30, 2014, what was the balance to be paid? b) What further payment on November 19, 2014 will reduce the balance to $ 50,000? c) If the invoice is settled with a balance payment on December 4, 2014, what was the total payment for the shipment?

A computer assembly company received a shipment of monitors from its suppliers with an invoice of $ 185,600 dated October 20, 2014 with payment terms 3/10, 2/30, n/45. a) If the company paid $ 75,500 on October 30, 2014, what was the balance to be paid? b) What further payment on November 19, 2014 will reduce the balance to $ 50,000? c) If the invoice is settled with a balance payment on December 4, 2014, what was the total payment for the shipment?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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