Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of
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Determining Amounts to be Paid on Invoices
Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period:
Merchandise | Freight Paid by Seller | Customer Returns and Allowances | ||||||
a. | $16,700 | - | FOB destination, n/30 | $800 | ||||
b. | 11,900 | $500 | FOB shipping point, 2/10, n/30 | 1,400 | ||||
c. | 7,600 | - | FOB shipping point, 2/10, n/30 | 700 | ||||
d. | 3,900 | 200 | FOB shipping point, 1/10, n/30 | 500 | ||||
e. | 2,900 | - | FOB destination, 1/10, n/30 | - |
a. $fill in the blank 1
b. $fill in the blank 2
c. $fill in the blank 3
d. $fill in the blank 4
e. $fill in the blank 5
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