Outdoor world buys plastic pools from a supplier with an invoice amount of $19,500. The terms of sale are 5/10, n/30. The retailer send an partial payment of $8,700 on the discount date. What is the net amount still due?
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Partial Payment Credit = Partial Payment/ ( 100- discount rate) = 8700 /( 100-5) =8700/95% = 8700/0.95 = 9157.89balance due = $ 19500 - 9157.89 = $10,342.11
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