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 with AI-Powered 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

Accounting What the Numbers Mean

Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,

9th Edition

978-0-07-76261, 0-07-762611-7, 9780078025297, 978-0073527062

Students also viewed these Accounting questions

Question

What questions do you have for us?

Answered: 1 week ago

Question

What are some properties of a good point estimator?

Answered: 1 week ago