please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly An invoice for $3,800.00 has terms 2/10, n/30. The amount credited on a payment made within the discount period was $1,680.00.What was the amount of the payment? (Round your answer to 2 decimal places.)Payment

To find the amount of the payment, we first need to calculate the discount available for the payment…

Answered: An invoice for $3,800.00 has terms…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Similar questions

How do you find the amount of payment to be credited and the balance outstanding when you know the amount of invoice is $600, the terms are 4/10 and n/60, the invoice date is 7/5, the actual partial payment made is $400, and the date of partial payment is 7/14?
In the credit terms of 3/15, n/45, the "3" represents the a. Number of days when the entire amount is due b. Full amount of the invoice c. Percent of the cash discount d. Number of days in the discount period
In credit terms of 3/15, n/45, the "3" represents the Oa. number of days in the discount period Ob. number of days when the entire amount is due Oc. percent of the cash discount )d. full amount of the invoice
Credit for partial payment and net amount due if the invoice is $8303 and the partial payment is $2300 and the terms are 2/10, n/30
Complete the following: (Do not round intermediate calculations. Round your final answers to the nearest cent.). Amount of invoice $ 705 Terms 5/10, n/60 Invoice date 7/25 Actual partial payment made $ 505 Date of partial payment 7/29 Amount of payment to be credited Balance. outstanding
In credit terms of 2/10, n/30 the "2" represents the O A. Number of days in the discount period O B. Full amount of the invoice C. Number of days when the entire amount is due O D. Percent of the cash discount
In credit terms of 3/15, n/45, the "3" represents the Oa. full amount of the invoice Ob. number of days in the discount period Oc. number of days when the entire amount is due Od. percent of the available discount for early payment 4
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The amount in the account is $? Round to the nearest cent if neccessary.
Convert the credit card rate to the APR. Ohio, 0.02192% daily rate. Please round your answer to the nearest percent. (zero decimal place.) Enter only the number without $ sign.
An invoice for $75.20 has terms of 3/10, 1/30, n/60. If you make payment 25 days after the invoice date, what amount should you pay?
In the credit terms 1/10, n/30, what does the "1" represent? Group of answer choices number of days when the entire amount is due number of days in the discount period full amount of the invoice 1% cash discount if paid within the credit period

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An invoice for $3,800.00 has terms 2/10, n/30. The amount credited on a payment made within the discount period was $1,680.00. What was the amount of the payment? (Round your answer to 2 decimal places.) Payment