Jan 2024 Update: On July 1, a company receives an invoice for $800 with the terms 1/10, net 30. On July 15, the

Question

On July 1, a company receives an invoice for $800 with the terms 1/10, net 30. On July 15, the payment should be $692 $790 $792 $800 $808 Continue

Asked By CrystalCove96 at 11 Jan 2024

Answered By Expert

Seth

Expert · 5.9k answers · 5k people helped

Step 1/1

ANSWER IS AS!

Q1)

A1)

Explanation:

The terms "1/10, net 30" mean that the buyer can take a 1% discount on the invoice price if the payment is made within 10 days; otherwise, the net amount of $800 is due within 30 days.

In this case, the payment amount with the 1% discount would be:

`\[ \$800 \times 0.99 = \$792 ]`

So, on July 15, the payment should be $792.

Final Answer

The final answer is as !

So, on July `15 ` , the payment should be ` $792.`

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