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What amount is needed to reduce the outstanding balance

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Question - Import Exclusives Ltd. received an invoice from Dansk Specialties of Copenhagen with terms 5/20 R.O.G. for the items listed below.

110 teak trays at $38.50 each

25 teak buckets at $69.30 each

40 teak salad bowls at $58.20 each

All items are subject to trade discounts of 31 and one third %, 7 and one half%, and 5%.

(a) If the shipment was received on June 26, what is the last day of the discount period?

(b) What is the amount due if the invoice is paid in full on July 10?

(c) If only a partial payment is made on the last day of the discount period, what amount is needed to reduce the outstanding balance to $2100?

Reference no: EM132474157

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