Solution-What is the total amount paid by exiter

What is the total amount paid by exiter

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Reference no: EM131830798

The Exiter Exchange Company received an invoice dated September 20 for $16,000 less 25%, 20% terms 5/10, 2/30, n/60. Exiter 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 is the original balance that the company must pay (hint: it is not $16,000). What amount must Exiter remit to pay the balance of the debt at the end of the credit period?

b) What is the total amount paid by Exiter?

Reference no: EM131830798

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What is the total amount paid by exiter

Reference no: EM131830798

Reference no: EM131830798

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