Practice Quiz

PTCE Pharmacy Technician

Category - Ordering

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Your pharmacy's wholesaler charges an additional 5% late fee if invoices are not paid in full within 28 business days of receiving them. The last invoice was for a total of $3728.12, and was received on Thursday, July 20. The invoice was paid by the accounting department on September 30. How much should have been paid?
  1. $3728.12
  2. $3541.71
  3. $3914.53
  4. $4100.93
Explanation
Answer: C - The accounting department should have paid $3914.53 for the invoice received on July 20. The invoice was not paid within 28 business days of receiving it, so the pharmacy would be responsible for an additional 5% late fee. The pharmacy would then be responsible for the entire cost of the invoice + 5%, or $3728.12 x 1.05 (represents the original cost + a 5% penalty) = $3914.53.
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