Question
A company purchased $10,000 of merchandise on June 15 with terms of 3/10, n/45, and FOB shipping point. On June 20, it returned $800 of
A company purchased $10,000 of merchandise on June 15 with terms of 3/10, n/45, and FOB shipping point. On June 20, it returned $800 of that merchandise. The shipping charges for the purchase totaled $500. On June 24, it paid the balance owed for the merchandise taking any discount it is entitled to. The cash paid on June 24 equals?
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Advanced Management Accounting
Authors: Maurice L. Hirsch Jnr.
2nd Edition
1861526768, 978-1861526762
