Determining Amounts to be Paid on Invoices Determine the amount to be paid in fu

Question

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:

a. $

b. $

c. $

d. $

e. $

Merchandise Freight
Paid by Seller Returns and
Allowances a. $32,000       —              FOB destination, n/30 $1,600       b. 12,800       $300             FOB shipping point, 2/10, n/30 2,500       c. 21,000       —              FOB shipping point, 1/10, n/30 4,000       d. 9,000       175              FOB shipping point, 2/10, n/30 1,000       e. 77,400       —              FOB destination, 1/10, n/30 —      

Explanation / Answer

Calculate amount paid

a) (32000-1600) = 30400

b) (12800-2500*98%+300) = 10394

c) (21000-4000*99%) = 16830

d) (9000-1000*98%+175) = 8015

e) (77400*99%) = 76626

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