Page 35 - LESSON 2: DISCOUNTS AND COMMISSIONS
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b.) April 30 is beyond the discount period. Thus, the Net Amount to be Paid ₱3,700.
Example 2.
An invoice for ₱830 is dated May 19, 2020. Find the amount to be paid on (a) May 22,
(b) June 6, (c) June 25 terms of sale are:
3/15, 2/30, n/45. M2_L2
Solutions:
a.) Since May 22, 2020, is within 15 days of the date of the invoice, deduct a 3% cash discount.
ℎ = ₱830 × 0.03
= ₱24.90
= ₱830 − ₱24.9
= ₱805.10
b.) June 6, 2020, falls within 30 days of the date of the invoice, thus, deduct 2% cash discount.
ℎ = ₱830 × 0.02
= ₱16.60
= ₱830 − ₱16.600
= ₱813.40
c.) June 25, 2020, falls within 45 days of the date of the invoice, thus, no discount is given.
Net Amount to be Paid = ₱830
LESSON 2: DISCOUNTS AND COMMISSIONS 13 | P a g e
