Remember order of discounts (TD à QD à CD) The vendor shipped and invoiced the following goods on June 7: 200 folding chairs at $50 list price. Trade discounts were 40% and 5%; and a 2% quantity...

Remember order of discounts (TD

à

QD

à

CD)

The vendor shipped and invoiced the following goods on June 7:

200 folding chairs at $50 list price.

Trade discounts were 40% and 5%; and a 2% quantity discount for an order of 200 or more folding chairs was provided by the vendor.  Invoice dating and cash discount terms were determined at 5/20, EOM.

• What is the
  trade discount$
  for the entire merchandise?


• What is the
  quantity discount$
  for the entire merchandise?


• What
  amount must be remitted to the vendor
  if the invoice is
  paid on July 15?