A company purchased $11,800 of merchandise on June 15 with terms of 3/10, n/45, and FOB shipping point. On June 20, it returned $2,240 of
A company purchased $11,800 of merchandise on June 15 with terms of 3/10, n/45, and FOB shipping point. On June 20, it returned $2,240 of that merchandise. The shipping charges for the purchase totaled $1,400. 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
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$8,919.
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$10,673.
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$12,640.
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$13,200.
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$12,540.
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Authors: Colin Drury, Mike Tayles
8th Edition
1473778808, 978-1473778801
