g Microsoft Edge false Determining Amounts to be Paid on Invoices Determine the
ID: 2538149 • Letter: G
Question
g Microsoft Edge false 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 recelved prior to payment and that all invoices were paid within the discount period. Freight Paid by Seller Merchandise a. $19,100 b. 10,500 Returns and Allowances FOB destination, n/30 FOB shipping point, 1/10 n/30 FOB shipping point, 2/10 n/30 FOB shipping point, 2/10, n/30 FOB destination, 2/10, n/30 $1,000 $400 1,300 .5,800 500 d. 4,000 200 600 2,500 a. $ 18,100Explanation / Answer
Amount to be paid is as calculated below:
Cost of goods purchased Freight paid by seller Return and allowances Amount paid Working a. 19,100 1,000 FOB Destination, n/30 18,100 (19,100-1,000) b. 10,500 400 1,300 FOB Shipping point, 1/10, n/30 9,508 (10,500-1,300)*99% + 400 c. 5,800 500 FOB Shipping point, 2/10, n/30 5,194 (5,800-500)*98% d. 4,000 200 600 FOB Shipping point, 2/10, n/30 3,532 (4,000-600)*98% + 200 e. 2,500 FOB Destination, 2/10, n/30 2,450 2,500*98%Related Questions
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