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1. A retailer purchases some merchandise with an invoice price of $19,700 and terms of sale of 5/15, n/45. What is the net amount due (in $) on the order if a partial payment of $10,800 is made on the 15th day? (Round your answer to the nearest cent. ________$

2. A retailer buys merchandise from a supplier with an invoice amount of $12,200. The terms of the sale are 6/20, n/30. What is the net amount due (in $) on the order if the bill is paid by the 20th day?-----------$

3. Using the EOM, ROG, and Extra dating methods, calculate the discount date and the net date for the transaction. Unless otherwise specified, the net date is 20 days after the discount date.

Date of Invoice	Terms of Sale	Discount Date	Net Date
February 10	2/10, 60 Extra	---Select--- January February March April May June July August September October November December	---Select--- January February March April May June July August September October November December

4. Calculate the credit given for the partial payment and the net amount due on the invoice (in $). (Round your answers to the nearest cent.)

Amount of Invoice	Terms of Sale	Partial Payment	Credit for Partial Payment	Net Amount Due
$8,303.00	2/10, n/30	$2,800	$	$

5. Calculate the cash discount and the net amount due the transaction (in $).

Amount of Invoice	Terms of Sale	Cash Discount	Net Amount Due
$17,660.00	2/10, n/45	$	$

6. Suppose a certain appliance store purchases the following items. Calculate the extended total after the trade discounts for each line, the invoice subtotal, and the invoice total. (Round your answers to the nearest cent.)

Quantity	Unit	Merchandise	Unit List	Trade Discounts	Extended Total
150	ea.	Blenders	$69.95	20/15/15	$
300	ea.	Toasters	$38.88	20/10/10	$
18	doz.	Coffee Mills	$244.30	30/9/6	$
12	doz.	Juicers	$440.00	25/10/5	$
Invoice subtotal	$
Extra 5 1 2 % volume discount on total order	$
Invoice total	$

7. A photographer buys some merchandise with a list price of $7,000. If the supplier offers trade discount rates of 20/15/10, find the trade discount (in $). (Find the single equivalent discount first.)

Single equivalent discount ---------

rate discount-----------$

8. A catering company buys some items with a list price of $5,000. If the supplier extends trade discount rates of 45/30/5, find the net price using the net price factor, complement method.-----------$

9. Complete the following table by finding the net price factor, single equivalent discount, trade discount (in dollars), and net price (in dollars). Round the net price factor and single equivalent discount to five decimal places, and the trade discount and net price to the nearest cent, when necessary.

List Price	Trade Discount Rate	Net Price Factor	Single Equivalent Discount	Trade Discount	Net Price
$630.70	31/15/5			$	$

10. Calculate the net price factor and single equivalent discount. For convenience, round your answers to five decimal places when necessary.

Trade Discount Rate	Net Price Factor	Single Equivalent Discount
20/16/15

11. Calculate the net price factor and net price (in dollars). For convenience, round the net price factor to five decimal places and the net price to the nearest cent, when necessary.

List Price	Trade Discount Rate	Net Price Factor	Net Price
$435.60	22/15/5		$

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