From the following facts calculate what eva main paid jade co. for the purchase of a dining room set. sale terms are 4/10, n/30 sales ticket price before tax, $ 12 comma 000, dated april 5. b. sales tax, 10%. c. returned one defective chair for credit of $ 500 on april 8. d. paid bill on april 13.

$12,190

Explanation:

We first group the information.

Dining Room set cost = $12,000

Tax at 10%

Terms as 4% discount if paid in 10 days and full payment in 30 days.

Adjustments :

Payment = $12000

Tax = $1200

Refund = $500

Tax refund for chair returned = $50 (500*0.1)

Discount received for settlement = (12000 - 500) * 0.04 = $460

Total payable @ April 13 = 12000 + 1200 - 500 - 50 - 460 = $12,190

Hope that helps.

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