A cellular company purchased $28,800 in cell phones on September 25. The terms of sale were 4/20, 3/30, n/60. Freight terms were F.O.B. destination. Returned goods amounted to $650. What is the net amount due (in $) if the cellular company sends the manufacturer a partial payment of $4,000 on October 20? (Round your answer to the nearest cent.) $ If the manufacturer charges a 4 1/2 % late fee, how much (in $) would the cellular company owe if it did not pay the balance by the net date? (Round your answer to the nearest cent.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A cellular company purchased $28,800 in cell phones on September 25. The terms of sale were 4/20, 3/30, n/60. Freight terms were F.O.B. destination. Returned goods amounted to $650.


What is the net amount due (in $) if the cellular company sends the manufacturer a partial payment of $4,000 on October 20? (Round your answer to the nearest cent.)
$


If the manufacturer charges a 4 1/2 %
late fee, how much (in $) would the cellular company owe if it did not pay the balance by the net date? (Round your answer to the nearest cent.)
$

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