Exam 8: Invoices and Discounts

John Sweeney purchased car parts and is billed $1,620.58 plus freight charges of $85. The invoice is dated June 19 with payment terms of 2/15, n/ 45. How much should John pay if he pays on July 1?

What does a series discount of 10/15/20 mean?

Mr. Taylor purchased furniture for his office for a total of $1,109.46 including 6.25% in sales tax. How much was the furniture before the tax?

Which shows how to find the net price equivalent with the series discount 15/20/10 using the complement method?

The Broomery is shipping 14 craft kits to a client. The price of each kit is $23.89, and the client receives a 25% trade discount. The shipping type is FOB shipping point at a cost of $35. What is the invoice total?

Mario's Wholesale Pastas sells pasta to restaurants. Mario buys from a company that offers a 40% trade discount. Mario sells to his retail customers at a 25% discount. One type of pasta lists for $17.80 for 20 pounds. What is Mario's profit on this item?

What is the net amount due on an invoice where the invoice amount is $2,589 and the terms are 2/10, n/45? Assume the invoice is paid within the discount period.

Jamal's Carburetors shipped 14 carburetor rebuild kits to a customer. The price of each kit is $48.29. The customer receives a 35% trade discount. The shipping type is FOB destination at a cost of $67.50. What is the invoice total?

The sales tax in a particular county is 5.2%. A taxable sale of $1,560 will have how much added in sales tax?

The Radford Pet Store is purchasing four aquarium kits for $69.99 each, fifty 25-lb bags of aquarium gravel for $14.50 each, and twenty cases of fish food for $119.19 each. The pet store receives a trade discount of 30%. If there are freight charges of $89, what is the net price?

Use the complement method to find the net price of an item that lists for $213 with a series discount of 20/15/10.

ABC Imports purchased $2,319.00 in shipping containers which includes 3.95% in sales tax. The terms are 2/10, n/30 and a taxable shipping charge of $198 is included in the invoice. If the invoice is paid within the discount period, how much should be paid?

An invoice amount for $4,090.72 has the terms 2/15, n/30. There are $135 in freight charges included in the invoice. $346.24 in merchandise is returned and the invoice is paid within the discount period. What is the net amount due?

Use the table to find the net price of an item that lists for $480 with a series discount of 10%, 10%, 5%.

There is an invoice with an invoice amount of $927.89. The terms are 3/10, n/30. There are $19.50 in shipping charges, and the invoice is paid within the discount period. What is the cash discount and the net amount due?

The ______________ of each discount in the series discount 10/15/20 is 0.9, 0.85, and 0.8.

Marianne spent $116.56 at the cosmetic counter in a department store. Included in the price is 5.5% sales tax. What is the selling price of the cosmetics she purchased?

Melissa's Fantastic Fabric Purses shipped 55 purses, 20 wallets, and 32 change purses to a customer. The price of each purse is $15.65, each wallet is $12.50, and each change purse is $7.89. The customer receives a 30% trade discount. The shipping type is FOB destination at a cost of $40. What is the invoice total?

An item lists for $314.79. A series discount of 10/8/5 is applied. What is the discount amount rounded to the nearest cent?

Kermit and Chris bought a vacation package for $3,999. There is a 4.75% sales tax added to the package. What is the total cost?