Practice Quiz

PTCE Pharmacy Technician

Category - Ordering

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Your pharmacy's wholesaler charges an additional 7% late fee if invoices are not paid in full within 30 days of receiving them. The last invoice, for a total of $1626.42 was received on Tuesday, April 15. The invoice was paid by the accounting department on May 20. How much should have been paid?
  1. $1626.42
  2. $1854.12
  3. $1512.57
  4. $1740.27
Explanation
Answer: D - The accounting department should have paid $1740.27 for the invoice received on April 15. The invoice was not paid within 30 days of receiving it, so the pharmacy would be responsible for an additional 7% late fee. The pharmacy would then be responsible for the entire cost of the invoice, plus the 7% late fee, or $1626.42 x 1.07 (represents the entire cost of the order + the 7% late fee) = $1740.27.
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