Question
Lee Company purchased goods with the following terms and details: Sales price, $9,000 Terms , 4/10, n/30 Date of sale, November 10 Date of payment,
Lee Company purchased goods with the following terms and details:
Sales price, $9,000
Terms, 4/10, n/30
Date of sale, November 10
Date of payment, November 20
Returns and allowances (before payment), $500
Shipping, FOB Shipping Point, $265, prepaid by seller
Required:
Compute the amount that Lee Company has to pay to the seller for the goods
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Financial Accounting
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
8th edition
978-1118953907, 9781118953808, 1118953908, 1118953800, 978-1119491057
