Exam 8: Invoices and Discounts

What is a trade discount?

Cherie's Lawn and Garden received a shipment of live plants for a list price of $2,890. Cherie was given a series discount of 15/10. The terms of the invoice are 3/10, n/30. How much should Cherie pay if she pays within the discount period?

There is an invoice amount of $3,545 which includes $120 in freight charges. The terms are 2/10, n/45 and the invoice is paid within the discount period. What is the net invoice amount due?

The sales tax in Xavier's area is 4.85%. He purchased a $2,345 car which is a taxable sale. How much will he pay in all?

Mr. and Mrs. Simon purchased patio furniture for $725.99 and a grill for $189.75. They are charged an additional 4.15% in sales tax and $55 in delivery fees. What is the total cost if the delivery charges are taxable?

Adya ordered books at a cost of $113. She is charged an additional 5.95% in sales tax and $12 in shipping costs. What is the total cost if the shipping charges are not taxable?

The list price on a cash register is $734.79. A business customer receives a 15% trade discount. What is the net price?

A statement of account lists all of the month's ____________ including the balance on the account, payments made during the month, and any credits issued.

Michaela purchased a bicycle for $435.76 including 4.75% in sales tax. How much was the bicycle before the tax?

Use the table to find the net price of an item that lists for $1,290 with a series discount of 20%, 10%, 10%.

Janine runs a small deli. She received a shipment of baked goods for a list price of $573.45. Janine was given a series discount of 10/15/5. The terms of the invoice are 2/10, n/30. How much should Janine pay if she pays within the discount period?

An invoice that totals $4,291.61 includes a $27 non-taxable shipping charge and 5.2% sales tax. The terms of the invoice are 3/15, n/45. If the invoice is paid within the discount period, how much should be paid?

The term 3/10 EOM means that a 3% discount will be applied if the payment is received within 10 days of the invoice date.

What does the term 3/10, n/30 mean?

Ronco's Hardware received an invoice for $10,429.38, dated September 17, with terms 3/10, 2/30, n/45. The hardware store pays the invoice on October 5. How much should be paid?

An invoice amount is $2,169.50 and the terms are 3/10 EOM. A partial payment of $750 is made within the discount period. What is the balance due on the invoice after the partial payment?

Greta purchases scarves for her clothing store and is billed $1,329.75, plus shipping charges of $56 with terms 3/10, n/30. The invoice is dated August 28. Greta makes a partial payment on September 3 for $925. How much does Greta still owe on the invoice?

A commercial lawn mower has a list price of $1,482.20. Jacob's Landscaping receives a 22% trade discount. How much is the discount?

What is the net amount due on an invoice where the invoice amount is $572.39 and the terms are 3/15, n/30? Assume the invoice is paid within the discount period.