1. A sales invoice included the following information: merchandise price, $10,000; freight, $900; terms 1/10, n/eom, FOB shipping point. Assuming that a credit for merchandise returned of $500 is granted prior to payment and that the invoice is paid within the discount period, what is the amount of cash that should be received by the seller?

a. $9,306

b. $9,900

c. $10,305

d. $9,500 2. The charter of a corporation provides for the issuance of 82,011 shares of common stock. Assume that 37,876 shares were originally issued and 4,902 were subsequently reacquired. What is the amount of cash dividends to be paid if a $1 per share dividend is declared?

Select the correct answer.

a. $4,902

b. $82,011

c. $32,974

d. $37,876