Compute the Discount Date, the Due Date, the Amount of Discount

question 25

Short Answer

Compute the discount date, the due date, the amount of discount and amount of the remittance if the required remittance is paid within the discount period.Mateski Bros. Builders Co. tries to buy building materials wherever and whenever the best cash discount is given. One supplier gave them terms of 2.5/20, net 35, so Mateski Bros. bought materials which had a total invoice of $4,240. The invoice date was May 21 and included a $370 delivery charge. Mateski Bros. returned some materials that cost $1,072. Compute the missing information.
​​

---

Definitions:

Power Pivot

A Microsoft Excel add-in that allows users to perform powerful data analysis and create sophisticated data models.

PivotTable

A data summarization tool used in spreadsheets and database programs to dynamically sort, count, and total or average data stored in one table or spreadsheet.

Data Model

A conceptual framework that arranges elements of data and normalizes their relationships to each other and to real-world characteristics.

Table

A structured arrangement of data made up of rows and columns, used for organizing, storing, and displaying information systematically.