Question: On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 60 televisions at a cost of $125 each. Century received

On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 60 televisions at a cost of $125 each. Century received a 10/2/3 chain discount. Shipping terms were FOB shipping point. ACME prepaid the $90 freight. Terms were 210210EOM. When Century received the goods, 2 sets were defective. Century returned these sets to ACME. On April 8, Century sent a $160 partial payment. Century will pay the balance on May 6. What is Centurys final payment on May 6? Assume no taxes.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

A storage tank is purged continuously with a stream of nitrogen. The purge stream leaving the tank is saturated with the product stored in the tank. A major part of the product lost in the purge...

On March 3 0 , Century Link received an invoice dated March 2 8 from ACME Manufacturing for 5 9 televisions at a cost of $ 1 2 5 each. Century received a 1 2 / 2 / 5 chain discount. Shipping terms...

On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 53 televisions at a cost of $105 each. Century received a 9/4/5 chain discount. Shipping terms were FOB...

On March 3 0 , Century Link received an invoice dated March 2 8 from ACME Manufacturing for 5 6 televisions at a cost of $ 1 5 0 each. Century received a 1 0 / 5 / 3 chain discount. Shipping terms...

On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 63 televisions at a cost of $135 each. Century received a 10/5/2 chain discount. Shipping terms were FOB...

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...

On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 53 televisions at a cost of $105 each. Century received a 9/4/5 chain discount. Shipping terms were FOB...

On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 63 televisions at a cost of $120 each. Century received a 15/5/3 chain discount. Shipping terms were FOB...

On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 54 televisions at a cost of $148 each. Century received a 15/3 / 3 chain discount. Shipping terms were FOB...

On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 50 televisions at a cost of $125 each. Century received a 10/4/2 chain discount. Shipping terms were FOB...

On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 58 televisions at a cost of $125 each. Century received a 12/3/2 chain discount. Shipping terms were FOB...

Find mean of X(t) and Rxx(0, 1). X(t) = 2cos(t+ Y) is a random process, where Y is a discrete random variable taking values 0 and /2 with equal probability.

If an ammeter with an internal resistance of 100 and a current capacity of 2 mA is to measure 5 A, determine the value of the resistance needed. Calculate the power dissipated in the shunt resistor?

1 8 Multiple Choice 4 points The internal rate of return: 2 3 is best used when comparing mutually exclusive projects. may produce multiple rates of return when cash flows are conventional. 4 5 is...

In applying CPM , we note that the critical path is a path on which: each and every one of the activities has zero slack. at least one activity has zero slack. none of the activities have zero slack.

4.68 A committee of 8 members is to be formed from a group of 8 men and 8 women. If the choice of committee members is made randomly, what is the probability that precisely half of these members will...

4.64 Compute the probability of 9 successes in a random sample of size n = 20 obtained from a population of size N = 80 that contains 42 successes.

4.67 A company receives a shipment of 16 items. A random sample of 4 items is selected, and the shipment is rejected if any of these items proves to be defective. a. What is the probability of...