Question
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
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 dollar.
| Merchandise | Freight Paid by Seller | Freight Terms | Credit for Refunds and Allowances | |||||
| a. | $7,000 | $400 | FOB shipping point, 1/10, n/30 | $1,100 | ||||
| b. | 4,150 | 200 | FOB destination, 2/10, n/30 | 900 | ||||
| a. | $fill in the blank |
| b. | $fill in the blank |
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The Social Function Of AccountsReforming Accountancy To Serve Mankind
Authors: John Flower
1st Edition
1138645249, 9781138645240
