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Majestic Manufacturing sold Jordans Furniture a living room set for an $8,580 list price with 30% trade discount. The $140 freight (FOB shipping point) was not part of the list price. Terms were 3/10, n/30 ROG. The invoice date was June 07. Jordans received the goods on July 26 and paid the invoice on July 28. What was the final price (include cost of freight) of the living room set? (Round your answer to the nearest cent.) Final price 6,146.00 %24

Majestic Manufacturing sold Jordans Furniture a living room set for an $8,580 list price with 30% trade discount. The $140 freight (FOB shipping point) was not part of the list price. Terms were 3/10, n/30 ROG. The invoice date was June 07. Jordans received the goods on July 26 and paid the invoice on July 28. What was the final price (include cost of freight) of the living room set? (Round your answer to the nearest cent.) Final price 6,146.00 %24

FINANCIAL ACCOUNTING
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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Majestic Manufacturing sold Jordans Furniture a living room set for an $8,580 list price with 30% trade discount. The $140 freight (FOB shipping point) was not part of the list price. Terms were 3/10, n/30 ROG. The invoice date was June 07. Jordans received the goods on July 26 and paid the invoice on July 28. What was the final price (include cost of freight) of the living room set? (Round your answer to the nearest cent.) Final price 6,146.00 %24
Transcribed Image Text:Majestic Manufacturing sold Jordans Furniture a living room set for an $8,580 list price with 30% trade discount. The $140 freight (FOB shipping point) was not part of the list price. Terms were 3/10, n/30 ROG. The invoice date was June 07. Jordans received the goods on July 26 and paid the invoice on July 28. What was the final price (include cost of freight) of the living room set? (Round your answer to the nearest cent.) Final price 6,146.00 %24
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