Merchandise is sold on account to a customer for $12,500, terms FOB shipping point, 1/10, n/30. The
Question:
Merchandise is sold on account to a customer for $12,500, terms FOB shipping point, 1/10, n/30. The seller paid the freight of $400. Determine the following:
(a) Amount of the sale,
(b) Amount debited to Accounts Receivable,
(c) Amount of the discount for early payment, and
(d) Amount due within the discount period.
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a 12500 b 1...View the full answer
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Related Book For 
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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