Respuesta :
2/10 = 2% discount when payment received in 10 days.
1/15 = 1% discount if payment received within 15 days.
n/60 = no discount within 60 days.
July 8 + 15 days = July 23
So, since Stacy has sent invoice on July 22 she could qualify for 1% discount.
1% = 0.01
Discount = 1050 * 0.01 = 10.5
100% - 1% = 99%
99% = 0.99
1050 * 0.99 = 1039.5
So, if Stacy pays between 11 to 15 days she can pay $1039.5
Since, she paid $242, remaining balance = $1039.5 - $242 = $797.5
now, if she does not pay this within 15th day she will loose 1% discount and needs to pay full $1050. So, since she paid $242, her outstanding balance is $1050 - $242 = $808.
a. Stacy's should receive Credit of $ 244.44
b. Stacy's Outstanding balance is $808.
The total amount remaining owed on a loan is known as the outstanding balance. This is the amount of a loan's principal balance that is still owed, which is the amount that was first loaned. It excludes any fees or interest that are owed on the loan. The outstanding balance of a loan is the sum that is still owed from either the lender's or the borrower's perspective. From the standpoint of a saver or savings bank, remaining balance instead refers to the amount of money that is still in an account after spending or a withdrawal.
Stacy's Dress Shop received a $1,050 invoice dated July 8 with 2/10, 1/15, n/60 terms. On July 22, Stacy's sent a $242 partial payment. (If more than one discount, assume date of last discount)
a. What credit should Stacy's receive?
b. What is Stacy's outstanding balance?
Learn more about outstanding balance here:
https://brainly.com/question/2091287
#SPJ4
