Complete the following by calculating the cash discount and net amount paid:

(If more than one discount, assume date of last discount.)

Based on the terms of the invoice, the gross amount on the invoice and the date of payment, the cash discount is $19 and the net amount paid is $931.

What is the cash discount?

The terms of the invoice are such that if the person pays within 10 days they get a 3% discount. If they pay in 15 days, they get a 2% discount.

The person paid on the 22nd after buying on the 8th so they qualify for the 2% for paying within 15 days.

The cash discount is:

= 2% x 950

= $19

The net amount paid is:

= 950 - 19

= $931

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Complete the following by calculating the cash discount and net amount paid: (If more than one discount, assume date of last discount.)

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What is the cash discount?

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Complete the following by calculating the cash discount and net amount paid:

(If more than one discount, assume date of last discount.)