Question

Merchandise is sold on account to a customer for $24,000, terms FOB shipping point, 2/10, n/30. The seller paid the freight of $425. Determine the following:
(a) Amount of the sale,
(b) Amount debited to Accounts Receivable,
(c) Amount of the discount for early payment,
(d) Amount due within the discount period.



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  • CreatedFebruary 28, 2014
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