Question

joanne's dress shop received an invoice dated july 25 for $1,400 with terms of 2/10, 1/15, 2/60. On August 8, joanne's dress shop sent a partial payment of $750. the actual amount that should be credited is?

Answer 1

how many days between july25 and aug8?

Answer 2

and what are the terms? any amount paid within n days is subject to an r% discount? or paid in full within ndays gets a r% discount?

Answer 3

and why is there a steeper penalty for 15 days? youd think the discount would lessen for each length of days .. but 60 days is just as good as 10

Answer 4

in fact, the way it reads enmasse is; you get a 2% discount if paid within 60 days ...

Answer 5

yes