On January 2, 2023, The Bruins Old Seat LLC (Bruins) sold 250 chairs to The Hockey Arena Co(Hockey). The cost of each chair was $200. The sales terms were 3/8, n/50. The shippingterms were Free on Board Shipping Point. The shipping and insurance costs totaled $625.
On January 4th - Hockey returned 30 chairs and received a full refund.

On January 7th -- Hockey discovered 70 chairs had minor defects but were still saleable. Bruinsgranted Hockey an allowance of $350.

On January 15th - Hockey returned anothe( 10 chairs and received a full refund.

 

Requirement: answer each of the following scenarios as if they are independent of each other
(1) Scenario #1 - lf Hockey pays 25% of the total due to Bruins before the end of the Discount Period, how much will Hockey pay Bruins and the end of the Discount Period?

(2) Scenario #2 if hockey pays the full amount due to burins at the end of the cerdit period, how much will Hockey pay Bruins?

Answer rating: 100% (QA)

1 Scenario 1 The cost of 250 chairs is 250 x 200 50000 The shipping and insurance costs are 625 Ther... View the full answer