A sales invoice included the following information: merchandise price, $10,100; terms 1/10, n/eom; FOB shipping point with prepaid freight of $356 added to the invoice. Assuming that a credit for merchandise returned of $2,000 is granted prior to payment and that the invoice is paid within the discount period, what is the amount of cash that should be received by the seller? $10,100 $10,351 $2,000 $8,375
A sales invoice included the following information: merchandise price, $10,100; terms 1/10, n/eom; FOB shipping point with prepaid freight of $356 added to the invoice. Assuming that a credit for merchandise returned of $2,000 is granted prior to payment and that the invoice is paid within the discount period, what is the amount of cash that should be received by the seller? $10,100 $10,351 $2,000 $8,375
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 13Q: If a customer purchased merchandise in the amount of $340, terms 3/10, n/30, returned $70 of the...
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A sales invoice included the following information: merchandise price, $10,100; terms 1/10, n/eom; FOB shipping point with prepaid freight of $356 added to the invoice. Assuming that a credit for merchandise returned of $2,000 is granted prior to payment and that the invoice is paid within the discount period, what is the amount of cash that should be received by the seller?
- $10,100
- $10,351
- $2,000
- $8,375
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