5. EX.05-14.ALGO (Algorithmic) Determining Amounts to be Paid on Invoices Determ

Question

5. EX.05-14.ALGO (Algorithmic) Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period Merchandise Freight Paid by Seller Returns and Allowances a. $19,800 11,800 7,100 4,500 2,300 FOB destination, n/30 FOB shipping point, 1/10, n/30 FOB shipping point, 2/10, n/30 FOB shipping point, 2/10, n/30 FOB destination, 2/10, n/30 $1,000 1,400 600 600 $500 C. 200 b. $ C. d. $

Explanation / Answer

a. Amount Paid = 19800-1000

Amount Paid = $ 18800

b. Amount Paid = (11800-1400)*0.99 + 500

Amount Paid = $ 10296+500 = 10796

c.Amount Paid = (7100-600)*0.98

Amount Paid = $ 6370

d.Amount Paid = (4500-600)*0.98 + 200

Amount Paid = $ 4022

e. Amount Paid = 2300*.98

Amount Paid = $ 2254

Please mark the answer as helpful for the other students to acknowledge, thanks

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