Sales-related transactions OBJ. 2 Merchandise is sold on account to a customer for $56,500, terms FOB shipping
Question:
Sales-related transactions OBJ. 2 Merchandise is sold on account to a customer for $56,500, terms FOB shipping point, 2/10, n/30. The seller paid the freight of $2,100. Determine the following:
(a) amount of the sale, (b)
amount debited to Accounts Receivable, and
(c) amount received within the discount period.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answered By
Anthony Ngatia
I have three academic degrees i.e bachelors degree in Education(English & Literature),bachelors degree in business administration(entrepreneurship option),and masters degree in business administration(strategic management) in addition to a diploma in business management.I have spent much of my life in the academia where I have taught at high school,middle level colleges level and at university level.I have been an active academic essays writer since 2011 where I have worked with some of the most reputable essay companies based in Europe and in the US.I have over the years perfected my academic writing skills as a result of tackling numerous different assignments.I do not plagiarize and I maintain competitive quality in all the assignments that I handle.I am driven by strong work ethics and a firm conviction that I should "Do Unto others as I would Like them to do to me".
76+ Reviews
152+ Question Solved
Related Book For 
Financial And Managerial Accounting
ISBN: 9781305267831,9781305267848
13th Edition
Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac
Question Posted:
