Determine the amount to be paid Determine the amount to be paid in full settleme

Question

Determine the amount to be paid

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.     52300                              ____                 FOB destination, n/30                              2700

b.     14800                            $ 200                 FOB shipping point, 2/10, n/30                  1600

c.     19100                               ____                FOB shipping point 1/10, n/30                   1300

d.     6700                                 $ 80                 FOB shipping point, 2/10, n/30                   300

e.     22600                           _____                  FOB destination 1/10, n/30                         ___

a. $ _____

b. $ _____

c. $ _____

d. $ ____

e. $ _____

Explanation / Answer

Answer:

a) 52300 - 2700 = 49600

b) [(14800-1600)-(13200*2%)+200] = 13136

c) [(19100-1300)-(17800*1%)] = 17622

d) [(6700-300)-(6400*2%)+80] = 6352

e) [(22600- (22600*1%)] = 22374

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