Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I dont know where the percent is coming from... help! Cheshire Co. purchased $2,350 of merchandise on account. The terms of the purchase are 3/15,n/45,FOB

I dont know where the percent is coming from... help! image text in transcribed
Cheshire Co. purchased $2,350 of merchandise on account. The terms of the purchase are 3/15,n/45,FOB shipping point with prepaid shipping costs of $70. If Cheshire pays within the discount period, what is the amount of the purchase discount? (Round the final answer to the nearest cent.) A. $68.40 B. $72.60 C. $70.50 D. No discount is allowed when shipping is prepaid

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Control Systems Performance Measurement Evaluation And Incentives

Authors: Kenneth Merchant, Wim Van Der Stede

4th Edition

1292110554, 978-1292110554

More Books

Students also viewed these Accounting questions

Question

=+c) What do you conclude about the average value of the

Answered: 1 week ago