Question

find the discount date, the due date, the amount of the cash discount, and the amount of the remittance.

2. Terms:                  2-10, n-30              Discount date:

     Invoice date:   Mar. 28                        Due date:

      Invoice amount: $3,241.94              Discount amount:

                   Returned goods: $1,012.59               Remittance:

2.

.               Terms:                               2.5/20, N/60                           Discount date:

                  Invoice date:                    AUG.20                                      Due date:

                  Invoice amount:            $1,645.55                                 Discount amount:

                  Returned good:            $498.75                                        Remittance:

Freight:                       $90.00

         

   

Answer 1

Answer : 1.) Below is the table showing the following :

Discount Date (March 28 + 10 days)	7th April
Due Date (March 28 + 30 days)	27 April
Discount Amount [(3241.94 - 1012.59) * 0.02]	44.587 or 44.59
Remittance [(3241.94 - 1012.59) - 44.587]	2184.763 OR 2184.76

2.)

Below is the table showing the following :

Discount Date (August 20 + 20 days)	9 September
Due Date (August 20 + 60 days)	19 October
Discount Amount [(1645.55 - 498.75 - 90) * 0.025]	26.42
Remittance [(1645.55 - 498.75 - 90) - 26.42 + 90]	1120.38