Question: Q13 *read each question carefully as, subtle changes could exist in similar appearing fact patterns* On December 22, 20X1, Buyer Company placed an order

Q13 *read each question carefully as, subtle changes could exist in similar

Q13 *read each question carefully as, subtle changes could exist in similar appearing fact patterns* On December 22, 20X1, Buyer Company placed an order to purchase merchandise with payment terms of 3/10, n/30. The goods were listed by Seller in the company's catalog at a selling price of $22,000. The goods were originally carried on Seller's balance sheet at a historical cost of $8,000. Buyer obtained a 5% trade discount. Seller shipped the goods to Buyer on December 28th with shipping terms of FOB Destination and $1,100 of prepaid freight. The goods arrived at Buyer's facility on January 3, 20X2. Buyer returned $4,000* of goods on this same day and paid the balance due to Seller on January 4, 20X2. *returned units had an original cost to Seller of $1,600. How much cash was exchanged on January 4, 20X2 to settle the account in full? A. $16,393 B. $17,460 C. $17,493 D. $18,560 E. $18,527

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