Question 11 Montez Muffins and More (MM&M) is a bakery located in New York City. MM&M purchases a great deal of flour in bulk from a wholesaler. The wholesaler offers purchase discounts for fast payment. MM&M purchased 600 pounds of flour for $0.20 per pound on May 1, under terms 2/10, n/30. What amount should MM&M pay if the company pays half of the balance on May 7 and half on May 18? O $120.00 O $117.60 O $12.00 $118.80 1/1 REPORT AN ERROR
Question 11 Montez Muffins and More (MM&M) is a bakery located in New York City. MM&M purchases a great deal of flour in bulk from a wholesaler. The wholesaler offers purchase discounts for fast payment. MM&M purchased 600 pounds of flour for $0.20 per pound on May 1, under terms 2/10, n/30. What amount should MM&M pay if the company pays half of the balance on May 7 and half on May 18? O $120.00 O $117.60 O $12.00 $118.80 1/1 REPORT AN ERROR
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Why is $118.80 the answer?
Transcribed Image Text:Question 11
Montez Muffins and More (MM&M) is a bakery located in New York City. MM&M purchases a great deal of flour in bulk from a wholesaler. The wholesaler offers purchase discounts
for fast payment. MM&M purchased 600 pounds of flour for $0.20 per pound on May 1, under terms 2/10, n/30. What amount should MM&M pay if the company pays half of the
balance on May 7 and half on May 18?
O $120.00
O $117.60
O $12.00
$118.80
1/1
REPORT AN ERROR
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