entry level accounting question

chapter 4 question 7

Determining Amounts to be paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period Freight Paid Merchandise Returns and by Seller Allowances $ 12,800 FOB shipping point, 1/10, 1/30 $1,000 b. 6,000 $ 175 FOB shipping point, 2/10, 1/30 SOO 30,000 2,500 FOB destination, 1/30 5,000 28,500 1,100 FOB shipping point, 2/10, 1/30 2,500 e. 7.700 250 FOB destination, 2/10, 1/30 C. d. Amount to be paid a. b. C. d. e