Question 2 (of 2) 2. 5.00 points On March 30, Century Television received an inv

Question

Question 2 (of 2) 2. 5.00 points On March 30, Century Television received an invoice dated March 28 from ACME Manufacturing for 43 televisions at a cost of $125 each. Century received a 13/4/4 chain discount were FOB shipping point. ACME prepaid the $95 freight Terms were 2/10 EOM. When Century received the goods, 3 sets were defective Century returned these sets to ACME. On Apri 08 Century sent a $170 partial payment Century wilpay the balance on May 06 What is Century's finaí payment on May 06? Assume no taxes (Do not round intermediate calculations. Round your answer to the nearest cent.) Worksheet Difticuity: 3 Hard

Explanation / Answer

List Price = (43 TV units less 3 defective) x $125.00 each $5,000.00 Trade Discount Series or Chain Discount 13/4/4 Net Price Factor (100% - 13% ) x (100%-4%) x (100% - 4%) 0.801792 Net Price = $5000 x .801792 (a) $4,008.96 FOB shipping Point (b) $95.00 Less: Partial Payment Credit = $170 x (1-2%) (c) -166.6 Payment Due on May 6 = a + b + c $3,937.36

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