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You purchase $100,000 of merchandise [1,000 units] on account from Techpower according to the terms 3/10, n/30. You plan on selling for a 70% markup
You purchase $100,000 of merchandise [1,000 units] on account from Techpower according to the terms 3/10, n/30. You plan on selling for a 70% markup in price. You had to pay $2,000 in freight & carry (shipping) to get the goods. [3 points]
You had to return 3 units and received an allowance [3 points]
You paid Techpower. [4 points]
You sold 2 units on account to GreenGroup and paid $100 shipping to get it to them
[7 points]
GreenGroup returned 1 unit [5 points]
GreenGroup paid and you gave them a 10% discount [4 points]
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