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15 December, 20:45

Vail Ski Shop received a $1,201 invoice dated July 8 with 2/10, 1/15, n/60 terms. On July 22, Vail sent a $485 partial payment. (If more than one discount, assume date of last discount) a. What credit should Vail receive? (Round your answer to the nearest cent.) Credit $ b. What is Vail's outstanding balance? (Round your answer to the nearest cent.) Outstanding balance $

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  1. 15 December, 23:15
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    A)

    100%-1%=99%=0.99

    485/0.99=489.9

    489.9 is the amount of payment to be credited

    B)

    1,201-489.9=711.1 is the balance outstanding
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Home » Mathematics » Vail Ski Shop received a $1,201 invoice dated July 8 with 2/10, 1/15, n/60 terms. On July 22, Vail sent a $485 partial payment. (If more than one discount, assume date of last discount) a.
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