Find the discount date, the due date, and the complement rate. Use the complement method to find the remittance if the required remittance is paid within the discount period.Lakewood Resorts buys canned food on terms of 1/5, net 45. An invoice for canned food dated July 3 was for $374. The total included a $24 delivery charge. On July 5, Lakeside Resorts returned cans worth $74.20 because they were damaged.
Definitions:
Seller
An individual or entity that offers goods or services in exchange for monetary compensation or other benefits.
Demand
The quantity of a good or service that consumers are willing and able to purchase at various prices during a given period of time.
Total Revenue
The total income received by a firm from the sale of its products or services.
Price
Price is the amount of money expected, required, or given in payment for something, reflecting its value in terms of currency.
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