An Invoice for $7,000 Dated September 1 with Terms 2/10

question 96

Multiple Choice

An invoice for $7,000 dated September 1 with terms 2/10, 1½/20, n/30 is received in the mail on September 3. If the company wants to reduce the outstanding balance to $4,000, how much should they pay on September 12?

• A) $3,000
• B) $2,940
• C) $2,955
• D) $3,920
• E) $3,940

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Definitions:

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