Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period.

Credit for Returns

A reduction in sales revenue that occurs when customers return previously purchased products.

Discount Period

The timeframe during which a discount is available or the period between the receipt of a bill and its payment due date when a discount may be taken.

Full Settlement

A financial arrangement where a debtor pays a lump sum that is less than the total amount owed to fully settle the outstanding debt.