Problembally manufacturing sent intel corporation an, Ask an Expert

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Problem:

Bally Manufacturing sent Intel Corporation an invoice for machinery with a $19,000 list price. Bally dated the invoice July 23 with 5/10 EOM terms. Intel receives a 20% trade discount. Intel pays the invoice on August 5. On August 1, Intel Corporation returns $1,100 of the machinery due to defects.

Required: What does Intel pay Bally on August 5?

Note: Please provide step by step solution.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91147767

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