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

question 198

Multiple Choice

An invoice for $25,000 dated March 15 with terms 3/10, 2/20, n/30, ROG was received in the mail on March 18. The shipment of goods was received on April 3. A payment of $14,000 was made on April 14. How much was credited to the account?

• A) $14,280.00
• B) $14,420.00
• C) $14,432.99
• D) $14,285.71
• E) $14,000.00

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Definitions:

Administers

The act of managing, directing, or overseeing individuals or processes.

Tariff

A tax imposed on imported goods and services to control trade volumes, protect domestic industries, or generate revenue.

Efficiency

The optimal allocation and utilization of resources to maximize productivity and minimize waste in the production of goods and services.

Domestic Industry

The industries that produce goods and services within a country's own borders.