Joanne's Dress Shop received an invoice dated July 25 for $1,400, with terms of 2/10, 1/15, n/60. On August 8, Joanne's Dress shop sent a partial payment of $750. The actual amount that should be credited is?

please help me i need the answer asap

Question

Joanne's Dress Shop received an invoice dated July 25 for $1,400, with terms of 2/10, 1/15, n/60. On August 8, Joanne's Dress shop sent a partial payment of $750. The actual amount that should be credited is?




please help me i need the answer asap

mertsj · Answer

We don't know what you mean when you say terms of 2/10, 1/15 and so on.

anonymous · Answer

@Mertsj the 2/10 and so on wouldbe considered fractions

tkhunny · Answer

2% Discount if paid in 10 days.
1% Discount if paid in 15 days, (but greater that 10 days)
Net due in 60 days.

1400*0.98 = 1372 will close the acount on days 1-10
1400*0.99 = 1386 will close the acount on days 11-15

August 8 is Day 15 and falls under the 1% discount rule.

750/0.99 = 757.58 from the balance, and 1400.00 - 757.58 = 642.42 is due by day 60.

tkhunny · Answer

Let's do another one, only you show your talents!

anonymous · Answer

thamk you @tkhunny