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25 November, 07:01

Joanne's Dress Shop received an invoice dated July 25 for $1,400, with terms of 2/10, 1/15, n/60. On August 8, Joanne's Dress shop sent a partial payment of $750. The actual amount that should be credited is

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  1. 25 November, 07:29
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    August 8 is Day 15 and falls under the 1% discount rule.

    750/0.99 = 757.58 from the balance, and 1400.00 - 757.58 = 642.42 is due by day 60.
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