An Invoice for $25,000 Dated March 15 with Terms 3/10

question 52

Multiple Choice

An invoice for $25,000 dated March 15 with terms 3/10, 2/20, n/30 is received in the mail on March 17. A payment of $15,000 is made on March 26. What is the outstanding balance?

• A) $9,550.00
• B) $9,700.00
• C) $10,000.00
• D) $10,300.00
• E) $9,693.88

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Definitions:

Collective Bargaining

The process of negotiations between an employer and a group of employees to regulate working conditions.

CIO's Philosophy

The core beliefs and principles underlying the Congress of Industrial Organizations, focusing on industrial unionism and the organization of all workers within an industry, regardless of craft, to promote workers' rights and collective bargaining.

Economic Insecurity

A condition where individuals or households are unable to predict their future financial stability, often due to unstable employment or income.

Labor Contracts

Legal agreements between employers and employees outlining terms of employment, including duties, compensation, and working conditions.