MATH

Vail Ski Shop received a $1,201 invoice dated July 8 with 2/10, 1/15, n/60 terms. On July 22, Vail sent a $485 partial payment. (If more than one discount, assume date of last discount)



a. What credit should Vail receive?



Credit $



b. What is Vail’s outstanding balance?



Outstanding balance $

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