On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 42 televisions
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On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 42 televisions at a cost of $150 each. Century received a 15/2/2 chain discount. Shipping terms were FOB shipping point. ACME prepaid the $72 freight. Terms were 410410 EOM. When Century received the goods, 2 sets were defective. Century returned these sets to ACME. On April 8, Century sent a $210 partial payment. Century will pay the balance on May 6. What is Century's final payment on May 6? Assume no taxes.
Related Book For
Fundamental Accounting Principles
ISBN: 978-1259536359
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappett
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