Mechanics For questions 1-3, calculate the full payment required on the paymt date that reduces the balance on the invoice to zero. Assume this is not a leap year. Invoice Terms Invoice Amount Invoice Date 1. $136,294.57 January 14 2. $98,482.75 September 28 3. $48,190.38 February 21 Receipt of Goods Date 2/10, n/30 January 10 3/10, 2/20, 1/30, n/50 EOM October 3 4/15, 3/40, n/60 ROG February 27 Date of Full Payment January 22 October 19 April 3

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Mechanics
For questions 1-3, calculate the full payment required on the payment date that reduces the balance on the invoice to zero.
Assume this is not a leap year.
Invoice
Amount
1. $136,294.57
2. $98,482.75
3. $48,190.38
Invoice
Date
January 14
September 28
February 21
Invoice Terms
Receipt of
Goods Date
January 10
2/10, n/30
3/10, 2/20, 1/30, n/50 EOM October 3
4/15, 3/40, n/60 ROG
February 27
Date of Full
Payment
January 22
October 19
April 3
Transcribed Image Text:Mechanics For questions 1-3, calculate the full payment required on the payment date that reduces the balance on the invoice to zero. Assume this is not a leap year. Invoice Amount 1. $136,294.57 2. $98,482.75 3. $48,190.38 Invoice Date January 14 September 28 February 21 Invoice Terms Receipt of Goods Date January 10 2/10, n/30 3/10, 2/20, 1/30, n/50 EOM October 3 4/15, 3/40, n/60 ROG February 27 Date of Full Payment January 22 October 19 April 3
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