A sales invoice included the following information: Price of the merchandise $6000: Transportation $300 terms 2/10 n/ecm,
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Question:
A sales invoice included the following information:
Price of the merchandise $6000:
Transportation $300 terms 2/10 n/ecm, FOB shipping point.
Assuming a returned merchandise credit of $600 is given prior to payment, transportation is prepaid by the seller, and the invoice is paid within the discount period, how much cash does the seller receive?
Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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