Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

Exercise 45

As part of the employment interview for an accounting job at Sound Design, you have been asked to answer the questions below, based on an invoice from one of Sound Design's vendors, Target Electronic Wholesalers.

a. Extend each line and calculate the merchandise total and the total amount of the invoice, using the space provided on the invoice.
b. What are the discount date and the net date if the shipment arrived on July 16
c. While in transit, five Blu-ray players and four LCD TVs were damaged and will be returned. What is the amount of the returned merchandise What is the revised merchandise total
d. What are the amount of the cash discount and the net amount due if the discount is taken
e. If Sound Design sends in a partial payment of $20,000 within the discount period, what is the net balance still due