A $7,350 Invoice Dated August 3 Has Payment Terms of 4/10

question 45

Multiple Choice

A $7,350 invoice dated August 3 has payment terms of 4/10, 2/30, n/60. If the invoice is paid on August 20 how much must the payment be?

• A) $7,497
• B) $6,832
• C) $6,615
• D) $7,056
• E) $7,203

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Definitions:

Spongy Bone

A type of bone tissue with a porous structure found at the ends of long bones, within the spinal vertebrae, and in the pelvic bones, which helps reduce the weight of the bones and contains bone marrow.

Compact Bone

The dense, hard outer layer of bone that provides strength and protection to the skeletal structure.

Concentric Lamellae

Circular plates of mineralized bone matrix that are found around a central canal in compact bone, forming the basic structural unit known as the osteon.

Spongy Bone

A porous type of bone tissue found at the ends of long bones and within the inner layers of other bones, providing structural support and facilitating marrow storage.