Determining Amounts to be Paid on Invoices Determine the amount to be paid in fu

Question

Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. Freight Paid by Seller Returns and Merchandise a. $18,800 b. 11,800 C. FOB destination, n/30 FOB shipping point, 1/10,n/30 FOB shipping point, 1/10, n/30 FOB shipping point, 1/10, n/30 FOB destination, 1/10, n/30 $900 1,400 700 500 $500 7,400 d. 3,80o e 1,300 200 a. b. C. d.

Explanation / Answer

a. Amount to be paid = $18,800 - $900 = $17,900

b. Amount to be paid = $11,800 - $1,400 - $104 + $500 = $10,796

c. Amount to be paid = $7,400 - $700 - $67 = $6,633

d. Amount to be paid = $3,800 - $500 - $33 + $200 = $3,467

e. Amount to be paid = $1,300 - $13 = $1,287

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