Question: Merchandise is sold on account to a customer for 12 500

Merchandise is sold on account to a customer for $12,500, terms FOB shipping point, 1/10, n/30. The seller paid the freight of $250. Determine the following:
(a) Amount of the sale,
(b) Amount debited to Accounts Receivable,
(c) Amount of the discount for early payment, and
(d) Amount due within the discount period.


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  • CreatedFebruary 04, 2014
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