Asked by Marwah Al Duais on May 30, 2024
Verified
Custom Kitchens received an invoice dated November 17 from Idea Cabinets Ltd. for $7260 with terms 3/15, 1½/30, n/60. If Custom Kitchens made a payment of $4000 on December 2, what further payment on December 16 will settle the account?
Payment
The transfer of money, or its equivalent, from one party to another in exchange for goods, services, or to fulfill a legal obligation.
- Understand the conditions of sale and determine the necessary payments to reconcile bills under given terms.
Verified Answer
NM
Learning Objectives
- Understand the conditions of sale and determine the necessary payments to reconcile bills under given terms.
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