Wilson Co. has received an invoice dated October 17 for 5 items with list price $900 each, and for freight of $170. The terms were: • Trade terms: list less 20%,15%. • Payment terms: 3/10, 1/30. Find: a. The last day for payment b. The amount due if payment is made on the last day c. The last day for taking a cash discount d. The amount needed to pay the invoice on the day in (c). e. If the seller agrees to give a cash discount on a partial payment, how much credit would be applied to the account if$1,500 were paid immediately?
