Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Majestic Manufacturing sold Jordans Furniture a living room set for an $8,610 list price with 20% trade discount. The $155 freight (FOB shipping point) was

image text in transcribed

Majestic Manufacturing sold Jordans Furniture a living room set for an $8,610 list price with 20% trade discount. The $155 freight (FOB shipping point) was not part of the list price. Terms were 1/10, 1/30 ROG. The invoice date was June 10. Jordans received the goods on July 29 and paid the invoice on July 31. What was the final price (include cost of freight of the living room set? (Round your answer to the nearest cent.) Final price

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_2

Step: 3

blur-text-image_3

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

Fundamental accounting principle

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

21st edition

1259119831, 9781259311703, 978-1259119835, 1259311708, 978-0078025587

More Books

Students also viewed these Accounting questions

Question

What are advantages of having architectural standards?

Answered: 1 week ago