1 (a) Time Bomb Traders Inc. in Burnaby just received an invoice dated February 17 (of a leap year) from Urban Ears headphones in the amount of $36,448.50 with terms of 1½/15, ½/30, n/45 ROG. The items on the invoice are received on March 3. What amount is the full payment if Urban Ears receives it on March 18?
1 (a) Time Bomb Traders Inc. in Burnaby just received an invoice dated February 17 (of a leap year) from Urban Ears headphones in the amount of $36,448.50 with terms of 1½/15, ½/30, n/45 ROG. The items on the invoice are received on March 3. What amount is the full payment if Urban Ears receives it on March 18?
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter11: Accounting For Purchases And Cash Payments
Section: Chapter Questions
Problem 1EC
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1 (a) Time Bomb Traders Inc. in Burnaby just received an invoice dated February 17 (of a leap year) from Urban Ears headphones in the amount of $36,448.50 with terms of 1½/15, ½/30, n/45 ROG. The items on the invoice are received on March 3. What amount is the full payment if Urban Ears receives it on March 18?
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