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: Customer Returns and Allowances Freight Paid by Merchandise Seller a. $14,000 b. 21,200 C. d. e. 28,800 FOB destination, n/30 FOB shipping point, 2/ 10, n/30 FOB shipping point, 1/10, n/30 FOB shipping point, 2/10, n/30 FOB destination, 1/10, n/30 $3,250 4,000 900 1,200 $380 16,400 7,500 250 b. $ e.

Explanation / Answer

a. $ 10,750.

b. $ 17,236 [ ( 21,200 - 4,000) x 0.98 + 380 = 17,236 ]

c. $ 15,345 [ ( 16,400 - 900) x 0.99 ]

d. $ 6,424 [ ( 7,500 - 1,200) x 0.98 + 250 = 6,424 ]

e. $ 28,512

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