Ace Formalwear Buys Tuxedos from a Supplier and Has an Invoice

question 60

Short Answer

Ace Formalwear buys tuxedos from a supplier and has an invoice amount of $27,700. The terms of the sale are 3/20, n/30. If Ace sends a partial payment of $7,400 on the discount date, what is the net amount still due?

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