CASH

DISCOUNT
1 Omega, a local sardines company, supplies
canned sardines to a big flea market in Central
Luzon. Last April 26, 2014, Nanay Marie, owner
of various stores in the said market, ordered
600 cans of sardines at ₱ 11.35 each. She
received the good on April 30, 2014. Omega
issued the invoice with the terms 2/10, EOM.
Nanay Marie paid on May 16, 2014. Did she
receive cash discount? How much did she pay
on May 16, 2014?
2
Last May 17, 2014, Hann's Kitchenette ordered
large stainless stock pots worth ₱ 74 400
prior to any discount. After exactly one week
(May 24, 2014), Hann received the stock pots
with the invoice that comes with the terms
3/10, n/30, ROG. Until when can Hann receive
cash discount? If she is planning to pay on
June 1, 2014, how much will she pay?
3 Jay-R, a beginning bookkeeper, forgot to put
one entry in his journal: When did he pay the
invoice for his orders of fish meat? However,
he remembers that the invoice amounts to ₱
12 075 prior to any discount but he only paid ₱
11 954.25. The invoice was dated February 24,
2012 that came with the terms 3/10, 1/20,
n/30. Help Jay-R remember the date of
payment by giving him the complete range of
possible dates.
4 Kathy ordered 50 pairs of school shoes from
Marikina Shoe Exchange (MSE). The shoes
were priced at ₱ 480 per pair with the following
terms: 4/10, 3/30, n/60. The invoice was dated
December 17, 2014. Kathy sent a check as
payment on January 15, 2015. What was the
amount indicated on the check?
5 Dante, owner of a computer shop, purchased 8
new computers worth ₱ 31 580 each last
March 21, 2015. The terms of the payment are
6/10, EOM. How much did Dante save if he
paid last April 4, 2015?