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December 18, 2014

Homework Help: prpblem solving

Posted by TJ on Thursday, January 19, 2012 at 9:39pm.

A customer enters a store & purchases slippers for $5, paying for the purchase with $20 bill. The merchant, unable to make change, ask the grocer next door to change the bill. The merchant then gives the customer the slippers & $15 change. After the customer, leaves the grocer discovers that the $20 bill is counterfeit & demands that the shoe store owner make good on it. The shoe store owner does so, & by law is obligated to turn the counterfeit bill over to the FBI. How much does the shoe store owner lose in this transaction?

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