Solve for the Amount of Discount and Amount Due

question 16

Multiple Choice

Solve for the amount of discount and amount due.
-Invoice amt: $570
Invoice date: Oct 9
Terms:
Date paid: Oct 24

• A)Amount of discount: $0; amount due: $570
• B)Amount of discount: $17.10; amount due: $552.90
• C)Amount of discount: $28.50; amount due: $541.50
• D)Amount of discount: $57.00; amount due: $513.00

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Definitions:

Service Charge

An additional fee added to a customer's bill for the provision of certain services.

Bank Statement Balance

The total amount of money that is available in an individual's bank account at the end of a given period, according to the bank’s records.

Checkbook Balance

The current amount of money recorded in a checking account, according to the account holder's records.

Outstanding Checks

Checks that have been written and recorded in the check register but have not yet been cleared or deducted from the account balance by the bank.