An Invoice Dated on September 30 Was Received on October

question 143

Multiple Choice

An invoice dated on September 30 was received on October 2. It was for 4 pairs of in-line skates at $125.00 each and two pairs of gel roller blades at $110.50 each. The terms of the invoice were 5/10, 2/30, n/60. What is the invoice payment amount on October 27?

• A) $707.58
• B) $708.58
• C) $705.58
• D) $706.85
• E) $706.58

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Definitions:

Technological Advance

The development and application of innovative processes, equipment, or software that enhances productivity, efficiency, or quality.

Farmers

Individuals or entities engaged in the activity of agriculture, which includes the cultivation of plants and rearing of animals for food, fiber, biofuel, medicines, and other products used to sustain and enhance human life.

Optimal Allocation

The most efficient distribution of resources within an economy to maximize the output or welfare.

MB = MC

A principle in economics indicating the optimal level of output or consumption, where the marginal benefit (MB) equals the marginal cost (MC).