X Mi 08Maps Wishful Dreamer I...omework iokeducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmidentrinterences1GrawGrawPayable amountQAMacy of New York sold LeeCo. of Chicago office equipment with a $7,200 list price. Sale terms were 2/10, n/30 FOB New York. Macyagreed to prepay the $30 freight. LeeCo. pays the invoice within the discount period. What does LeeCo. pay Macy?Fa2WSFa 3 Adw#3EDS4$RF%Soсла5T< PrevG^Saved68 of 22 #Y&7HUNext >* 008J-Qu- O(9KO)0LPHel

The company makes sales on cash and credit as well. The company makes sales on account to attract customers however the company also provide a discount to motivate the customer to make early payment. The company tries to fasten the collection process by providing discounts.The computation of the amount paid is as follows: The formula snip is as follows: Hence the amount is paid within the discount period, so a discount is allowed and the according to FOB shipping point the freight charges are to be paid by the buyer.

Answered: Macy of New York sold LeeCo. of Chicago…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Macy of New York sold LeeCo. of Chicago office equipment with a $7,200 list price. Sale terms were 2/10, n/30 FOB New York. Macy agreed to prepay the $30 freight. LeeCo. pays the invoice within the discount period. What does LeeCo. pay Macy? Payable amount