To find the amount needed to pay the invoice, we need to consider the cash discounts and payment terms offered by Bed Bath & Beyond.
The cash discounts offered are 4/10 and 2/20, which means that if the invoice is paid within 10 days, a discount of 4% can be applied, and if paid within 20 days, a discount of 2% can be applied.
The payment terms are net 30, which means the full amount is due within 30 days without any discount.
In this case, the invoice is dated on June 18 and paid on July 7, which is within the 10-day discount period. Therefore, the discount of 4% can be applied to the invoice amount.
Invoice amount = $4,635.40
Discount = 4% of $4,635.40 = 0.04 * $4,635.40 = $185.42
Amount needed to pay the invoice (after applying the discount) = Invoice amount - Discount
Amount needed to pay the invoice = $4,635.40 - $185.42 = $4,449.98
Therefore, the amount needed to pay the invoice is $4,449.98.