Balance of the debt at the end of the credit period

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The Peel Trading Company received an invoice dated September 20 for $16 000 less 25% and 20%, terms 5/10, 2/30, n/60. Peel made a payment on September 30 to reduce the debt to $5000 and a payment on October 20 to reduce the debt by $3000.

A) What amount must Peel remit to pay the balance of the debt at the end of the credit period?

B) What is the total amount paid by Peel?

Reference no: EM131101552

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