Asked by Hudson Nyaki on May 01, 2024
Verified
Peak Roofing sent Jensen Builders an invoice dated July 12 for $5,400 with terms 3/10, 1½/20, n/45. Jensen made a payment of $2,000 on July 20, and a second payment on August 1 that reduced the balance owed to $1,000. What was the size of the second payment?
Invoice
A document issued by a seller to a buyer that lists goods or services provided and the amount due.
Terms
Conditions and stipulations that are part of an agreement or contract.
- Comprehend and determine the rates of cash discounts.
Verified Answer
SB
Learning Objectives
- Comprehend and determine the rates of cash discounts.