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Brimstone Co. purchased 1,865 items at $8.24 each less trade discounts of 26%, 12%. On August 27, 2021, it received an invoice dated August 24, 2021 with terms 2/15, n/60. a. How much was the invoice? Round to the nearest cent b. What was the final date to take the discount? August 27, 2021 October 23, 2021 November 22, 2021 September 8, 2021 c. How much must you remit within the discount period to pay the invoice in full? Round to the nearest cent d. What was the final due date for the invoice?

Brimstone Co. purchased 1,865 items at $8.24 each less trade discounts of 26%, 12%. On August 27, 2021, it received an invoice dated August 24, 2021 with terms 2/15, n/60. a. How much was the invoice? Round to the nearest cent b. What was the final date to take the discount? August 27, 2021 October 23, 2021 November 22, 2021 September 8, 2021 c. How much must you remit within the discount period to pay the invoice in full? Round to the nearest cent d. What was the final due date for the invoice?

FINANCIAL ACCOUNTING
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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Question 9 of 9 Brimstone Co. purchased 1,865 items at $8.24 each less trade discounts of 26%, 12%. On August 27, 2021, it received an invoice dated August 24, 2021 with terms 2/15, n/60. a. How much was the invoice? Round to the nearest cent b. What was the final date to take the discount? August 27, 2021 October 23, 2021 November 22, 2021 September 8, 2021 c. How much must you remit within the discount period to pay the invoice in full? Round to the nearest cent d. What was the final due date for the invoice? August 27, 2021 October 23, 2021 November 22, 2021 September 8, 2021
Transcribed Image Text:Question 9 of 9 Brimstone Co. purchased 1,865 items at $8.24 each less trade discounts of 26%, 12%. On August 27, 2021, it received an invoice dated August 24, 2021 with terms 2/15, n/60. a. How much was the invoice? Round to the nearest cent b. What was the final date to take the discount? August 27, 2021 October 23, 2021 November 22, 2021 September 8, 2021 c. How much must you remit within the discount period to pay the invoice in full? Round to the nearest cent d. What was the final due date for the invoice? August 27, 2021 October 23, 2021 November 22, 2021 September 8, 2021
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