15. City Cellular purchased $28,900 in cell phones on April 25. The terms of sale were 4/20, 3/30, n/60. Freight terms were F.O.B. destination. Returned goods amounted to $650. What is the net amount due if City Cellular sends the manufacturer a partial payment of $5,000 on May 20? (Points : 2.5)

To find the net amount due, we need to calculate the remaining balance after deducting the partial payment and adjusting for any returns.

First, let's break down the terms of sale:

4/20: This means that the customer gets a 4% discount if the invoice is paid within 20 days.

3/30: This means that the customer gets a 3% discount if the invoice is paid within 30 days.

n/60: This means that the full payment is due within 60 days.

Now, let's calculate the net amount due by following these steps:

1. Start with the total purchase amount: $28,900.
2. Deduct the returned goods amount: $28,900 - $650 = $28,250.
3. Deduct the partial payment: $28,250 - $5,000 = $23,250.
4. Determine the discount for paying within 20 days: 4% of $23,250 = $930.
5. Determine the discount for paying within 30 days: 3% of $23,250 = $697.50.
6. If paid within 20 days, subtract the discount: $23,250 - $930 = $22,320.
7. If paid within 30 days, subtract the discount: $23,250 - $697.50 = $22,552.50.
8. If paid within 60 days (full payment), no discounts are applied: $23,250.

So, the net amount due will depend on when the payment is made:

- If the payment is made within 20 days, the net amount due is $22,320.
- If the payment is made within 30 days, the net amount due is $22,552.50.
- If the payment is made within 60 days (full payment), the net amount due is $23,250.