Merchandise is sold on account to a customer for ($ 9,200), terms FOB shipping point, (2 /

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Merchandise is sold on account to a customer for \(\$ 9,200\), terms FOB shipping point, \(2 / 10\), \(\mathrm{n} / 30\). The seller paid the transportation costs of \(\$ 638\). 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: 9780324380675

10th Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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