Merchandise is sold on account to a customer for $18,000, terms FOB shipping point, 2/10, n/30. The

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Merchandise is sold on account to a customer for $18,000, terms FOB shipping point, 2/10, n/30. The seller paid the freight of $600. 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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Financial Accounting

ISBN: 978-1133952428

12th Edition

Authors: Warren, Reeve, Duchac

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