An Invoice for $7,000 Dated September 15 with Terms 2/10

question 64

Multiple Choice

An invoice for $7,000 dated September 15 with terms 2/10, 1½/20, n/30, EOM is received in the mail on September 25. A payment is sent on October 10 for $3,000. What is the outstanding balance?

• A) $3,940.00
• B) $3,955.00
• C) $3,938.78
• D) $4,000.00
• E) $3,954.31

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Definitions:

Minnesota Multiphasic Personality Inventory

A psychological test that assesses personality traits and psychopathology, widely used for mental health diagnosis and treatment.

Neglected

A condition or situation in which something or someone does not receive adequate attention or care.

Paranoia

An irrational and persistent feeling of being persecuted or mistrusted by others.

Depression

A mood disorder characterized by persistent feelings of sadness, loss of interest, and a lack of energy.