e.com/platform t00/qztcpt.pp College Students\' E Course: ACC111:D enu ACCTTEDE-

Question

e.com/platform t00/qztcpt.pp College Students' E Course: ACC111:D enu ACCTTEDE-Spring 2018 My Subscriptions / Courses ACC111:DL-Spring 2018 / Chapter 6 / Exam 3 Chapter 5 and 6 Not yet answered Points out of 3.00 Flag question On january 1, Smith &Sons; purchased merchandise with an invoice price of $3,000 and credit terms of 2/10, n/30. On jJanuary 4, Smith& Sons paid $100 transportation costs on the purchased merchandise. On January 9, Smith & Sons pald for the merchandise. What is the total cost of the purchased merchandise? Select one: $3,100 $2,940 $3,000 $3,040

Explanation / Answer

$3040 ,

Total cost of purchased Merchandise = [Total invoice price - discount received] + Transportation cost

   = [$3000 - ($3000 *2%)] + $100

= [$3000 - $60] + $100

= $2940 + $100

= $3040

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