Question 1 Charlet Company sells office chairs to its customers. On May 2, Rutherford Corporation purchased 16 of these office chairs from Charlet for a list price of $300 each. Rutherford returned 4 of the chairs on May 11, paid three-fourths of its bill on May 20 and paid the other one-fourth on May 26. Charlet offers credit terms of 7/21, n/50 to its customers. Calculate the total amount of cash Rutherford Corporation paid to Charlet for its purchase of the office chairs.

Charlet Company sells office chairs to its customers. On May 2, Rutherford Corporation purchased 16 of these office chairs from Charlet for a list price of $300 each. Rutirerford returned 4 of the chairs on May 11, paid three-fourths of its bill on May 20 and paid the other one-fourth on May 26. Charlet offers credit terms of 7/21,n/50 to its customers. Calculate the total amount of cash Rutherford Corporation paid to Charlet for its purchase of the office chairs