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Question
Jacob Co. sells merchandise on account to Isaiah Co. for $9,700. The invoice is dated on May 1 with terms of 1/15, net 45. What is the discount, and up to what date must the invoice be paid in order for the buyer to take advantage of the discount?
a. $194, May 15
b. $194, May 16
c. $97, May 15
d. $97, May 16
Answer
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