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Collins Company purchased goods with the following terms and details: Sales price, $15,000 Terms, 5/10, n/30 Date of sale, November 10 Date of payment, November
Collins Company purchased goods with the following terms and details:
Sales price, $15,000
Terms, 5/10, n/30
Date of sale, November 10
Date of payment, November 21
Returns and allowances (before payment), $2,200
Shipping,FOB Destination, $220, prepaid by seller
Required:
Compute the amount that Collins Company has to pay to the seller for the goods.
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Accounting Information Systems
Authors: Vernon Richardson, Chengyee Chang, Rod Smith
2nd edition
