17 Feb Discounts Each of the following situations involve
Discounts Each of the following situations involves the use of discounts: 1. How much discount may SEALS Inc. take in each of the following transactions? What was the rusted i calculating the annualized rate use 360 days? a. SEALS purchases inventory costing $900, 2/15, n/45. b. SEALS purchases new office furniture costing $2,600, terms 1/10, n/30. s 2. Calculate the discount rate CROFT Co. received in each of these transactions. a. CROFT purchased office supplies costing $800 and paid within the discount period with a check f or $738 with a check for $3,900 b. CROFT purchased merchandise for $4,000. It paid within the discount period with a check for $3,900.