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Living Ornaments is offering a special for wedding planners. Wedding flower orders totaling over $500 receive a 10% discount, over $750 a 15% discount, over $1,000 a 20% discount. All orders $1,500 and above receive a 25% discount. The delivery charge is $81 on weekdays and $119 on weekends. Terms are EOM. WeddingsRUs placed an order for Thursday, June 1, delivery. The list price on the chosen flowers totals $1,038.50. Note: Round all intermediate calculations to 2 decimal places (the nearest penny) and enter your final answers rounded to 2 decimal places. a. Calculate the trade discount and the net price for the flowers to be delivered. Trade discount Net price

Living Ornaments is offering a special for wedding planners. Wedding flower orders totaling over $500 receive a 10% discount, over $750 a 15% discount, over $1,000 a 20% discount. All orders $1,500 and above receive a 25% discount. The delivery charge is $81 on weekdays and $119 on weekends. Terms are EOM. WeddingsRUs placed an order for Thursday, June 1, delivery. The list price on the chosen flowers totals $1,038.50. Note: Round all intermediate calculations to 2 decimal places (the nearest penny) and enter your final answers rounded to 2 decimal places. a. Calculate the trade discount and the net price for the flowers to be delivered. Trade discount Net price

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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• Living Ornaments is offering a special for wedding planners. Wedding flower orders totaling over $500 receive a 10% discount, over $750 a 15% discount, over $1,000 a 20% discount. All orders $1,500 and above receive a 25% discount. The delivery charge is $81 on weekdays and $119 on weekends. Terms are EOM. WeddingsRUs placed an order for Thursday, June 1, delivery. The list price on the chosen flowers totals $1,038.50. Note: Round all intermediate calculations to 2 decimal places (the nearest penny) and enter your final answers rounded to 2 decimal places. a. Calculate the trade discount and the net price for the flowers to be delivered. Trade discount Net price b. How much does WeddingsRUs owe if they pay the invoice on July 10? Payable amount
Transcribed Image Text:• Living Ornaments is offering a special for wedding planners. Wedding flower orders totaling over $500 receive a 10% discount, over $750 a 15% discount, over $1,000 a 20% discount. All orders $1,500 and above receive a 25% discount. The delivery charge is $81 on weekdays and $119 on weekends. Terms are EOM. WeddingsRUs placed an order for Thursday, June 1, delivery. The list price on the chosen flowers totals $1,038.50. Note: Round all intermediate calculations to 2 decimal places (the nearest penny) and enter your final answers rounded to 2 decimal places. a. Calculate the trade discount and the net price for the flowers to be delivered. Trade discount Net price b. How much does WeddingsRUs owe if they pay the invoice on July 10? Payable amount
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