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A man received an invoice dated March 9, with term 4/10, n/30 amounting to $510. He paid the bill on March 12. How much was the cash discount?




A man gets an invoice for $440 with terms 4/10, 1/15, n/29. How much would he pay 24 days after the invoice date?


An invoice for a camcorder that cost $1240 is dated August 2, with sales terms of 2/10 EOM. If the bill is paid on Sept 6, How much is due?


An invoice is dated for Oct 14 and has sales terms of 2/10 ROG. The merchandise arrives Oct 17. How much is due if the bill is paid Oct 26?


Kariem Salaam is directing the accts payable office and is training a new accts payable associate. They are processing an invoice for a credenza that is dated August 19 in the amount of $392.34. The delivery ticket for the credenza is dated Aug 23. If the sales terms indicated on the invoice are 3/9 ROG, how much needs to be paid if the bill is paid on September 5?


A machine shop received a shipment of goods from a distributor. The bill of lading was marked freight collect. Who paid the freight? To whom was the freight paid?


  1. Nobody paid the freight

  2. The distributor paid the freight

  3. Both paid the freight

  4. The machine shop paid the freight to the freight company




Selling price= $39.99; Markup= $15.99. Find the cost.




Markup= $60; Rate of markup based on cost = 81%.


  1. Find the cost.

  2. Find the selling price


Nineteen decorative enamel balls cost $11.48 and are marked up $9.45.


  1. Finding the selling price for each one

  2. Find the total amount of margin or markup for the 19 balls.




A sofa costs $388 and sells for $698.40, Which is 180% of the cost.


  1. Find the rate of markup.

  2. Find the markup.


What is the cost of a sink that is marked up $182 if the markup rate is 65% based on cost?




Selling price = $1930; cost = $788. Find the rate of markup based on the selling price. Round to the nearest tenth of a percent.




Markup based on selling price = 17%; markup = $320. Find the selling price. Round to the nearest cent.




An item has a 22% markup based on selling price. The markup is $100.


  1. find the selling price

  2. Find the cost




An item sells for $32 and is reduced to sell for $28. Find the markdown amount and the rate of markdown.




An item is originally priced to sell for $75 and is marked down 60%. A customer has a coupon for an additional 5%. What is the total percent reduction?




Pauls Grocery received 1000 pounds of onions at $0.12 per pound. On average, 3% of the onions will spoil before selling. Find the selling price per pound to obtain a markup rate of 180% based on cost.




A director of accounts received a bill for $647, dated April 5, with sales terms 3/10, 2/15, n/30. A 4% penalty is charged for payment after 30 days. If the director of accounts pays on or after May 6, How much must he pay?


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