An Invoice for $2,500 Dated September 15 with Terms 2/10

question 51

Multiple Choice

An invoice for $2,500 dated September 15 with terms 2/10, 1½/20, n/30, EOM is received in the mail on September 20. A payment of $1500 is made on October 20. How much is credited to the account?

• A) $1,522.50
• B) $1,530.61
• C) $1,560.60
• D) $2,537.50
• E) $1,522.84

Understand the psychological impact of hospitalization and illness on children and families.

Identify strategies for promoting safety and injury prevention among children and adolescents.

Understand the advantages of computerized accounting systems including error reduction and automatic record updating.

Identify and match accounting and finance terms with their correct definitions.

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Definitions:

Capital Usage

Refers to how assets are employed within a firm to generate value, emphasizing the effective application of physical and financial capital.

Capital Inputs

The goods or services used to produce other goods or services, particularly those which are fixed like machinery or buildings versus labor.

Interest Rate

The cost of borrowing money, typically expressed as an annual percentage of the principal.

Renewal Price

Renewal price refers to the price at which a service, contract, or subscription can be renewed after the initial term ends.