Export Ltd

question 123

Essay

Export Ltd.received an invoice dated August 21 from Dutch Specialties of Amsterdam with terms 5/20,n/45 for:
All items are subject to trade discounts of 33.5%,7.125%,4%.
a)What is the last day of the discount period?
b)What is the amount due if the invoice is paid in full on September 6?
c)If only a partial payment is made on the last day of the discount period,what amount is due to reduce the outstanding balance to $1500.00?

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Definitions:

Price Ratio

The proportionate comparison or ratio of the prices of two different goods or services.

Family and Medical Leave Act

A U.S. federal law that provides eligible employees with unpaid, job-protected leave for specified family and medical reasons.

Remedies

Legal means through which a right is enforced or the violation of a right is prevented, redressed, or compensated.

Provisions

Clauses in a legal document or statute that provide for a specific requirement, rule, or arrangement.