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ASAP Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns
ASAP
Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dotlar. Returns and Allowances (Invoice Amount) Merchandise (Involce Amount) Freight Pald by Seller $1,300 Freight Terms FOB destination, 1/10, 1/30 FOB shipping point, 2/10, n/30 $7,900 $100 a. 750 b. 4,100 700 a. -6,634 X Feedback Check My Work a & b. Under FOB shipping point, freight is paid by the buyer, while under FOB destination freight is the seller's expense. To determine the amount, first deduct the retum before calculating the discount. Then calculate (Purchase - Return-Discount) applicable freight Step by Step Solution
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