Sarah Just Received an Invoice for $12,000 with Terms of 2/10,n/30.The

question 65

Multiple Choice

Sarah just received an invoice for $12,000 with terms of 2/10,n/30.The invoice date was June 1.Her contract with the vendor indicates a charge of 1.5 percent per month on late payments.If Sarah pays this bill on June 15 she will send the vendor a check for

• A)$12,000.
• B)$11,760.
• C)$12,180.
• D)Cannot answer without more information.

---

Definitions:

Double Rule

A method used in accounting to underline a summary amount twice to indicate a total, final, or especially significant figure.

End-Of-Period Spreadsheet

A comprehensive document or tool used to compile accounting information before finalizing financial statements, aiding in the review and adjustment of account balances.

Total

This refers to the sum or aggregate amount of any given set of numbers or measures.

Columns Balance

The process of verifying that the sum of debit values equals the sum of credit values in an accounting system, ensuring accuracy in records.