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. d. C. d. a. $ e. e. b. $ c. $ Merchandise Feedback Invoice Amount 21,800 ✔ 10,380 X 7,900 X $23,000 10,100 Check My Work 8,700 3,800 3,700 Freight Paid by Seller $400 200 FOB destination, n/30 FOB shipping point, 2/10, n/30 FOB shipping point, 1/10, n/30 FOB shipping point, 2/10, n/30 FOB destination, 2/10, n/30 Customer Returns and Allowances $1,200 1,200 800 500

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. d. C. d. a. $ e. e. b. $ c. $ Merchandise Feedback Invoice Amount 21,800 ✔ 10,380 X 7,900 X $23,000 10,100 Check My Work 8,700 3,800 3,700 Freight Paid by Seller $400 200 FOB destination, n/30 FOB shipping point, 2/10, n/30 FOB shipping point, 1/10, n/30 FOB shipping point, 2/10, n/30 FOB destination, 2/10, n/30 Customer Returns and Allowances $1,200 1,200 800 500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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