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A company purchased $10,700 of merchandise on June 15 with terms of 2/10, n/45, and FOB shipping point. The freight charge, $850, was added to
A company purchased $10,700 of merchandise on June 15 with terms of 2/10, n/45, and FOB shipping point. The freight charge, $850, was added to the invoice amount. On June 20, it returned $1,360 of that merchandise. 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: Multiple Choice $10,003. $9,224. $11,550. $11,210. $11,11
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