Question

On March 11, Jangles Corporation received a $20,000 invoice dated March 8.

Cash discount terms were 4/10, n/30. On March 15, Jangles sent an
$8,000 partial payment. what is the credit
a. What credit should Jangles receive? (Round your answer to thenearest cent.) Credit $
b. What is Jangles outstanding balance? (Round your answer to the nearest cent.) Outstanding balance $

Answer 1

a. What credit should Jangles receive?

8333,33

b. What is Jangles' outstanding balance?

11666,67

Step-by-step explanation:

a. What credit should Jangles receive?

Invoice 20000

Discount rate 100%-4%

received 8000_________96%

x___________100%

Received 8333,333333

b. What is Jangles' outstanding balance?

20000-8333,33=Oustaning balance

Oustandind balance 11666,67