Question
Print Item Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for
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Print Item
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 (Invoice Amount) Freight Paid by Seller Freight Terms Returns and Allowances (Invoice Amount) a. $7,100 $600 FOB destination, 1/10, n/30 $1,300 b. 2,850 700 FOB shipping point, 2/10, n/30 1,000
a. $fill in the blank 1 b. $fill in the blank 2
Print Item
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 (Invoice Amount) | Freight Paid by Seller | Freight Terms | Returns and Allowances (Invoice Amount) | |||||
| a. | $7,100 | $600 | FOB destination, 1/10, n/30 | $1,300 | ||||
| b. | 2,850 | 700 | FOB shipping point, 2/10, n/30 | 1,000 | ||||
| a. | $fill in the blank 1 |
| b. | $fill in the blank 2 |
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Strategic Accounting For Management
Authors: Bob Ryan
1st Edition
1861524625, 9781861524621
