Merchandise is sold on account to a customer for $9,200, terms FOB shipping point, 2/10, n/30. The

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Merchandise is sold on account to a customer for $9,200, terms FOB shipping point, 2/10, n/30. The seller paid the transportation costs of $638. 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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Accounting

ISBN: 978-0324401844

22nd Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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