Answered: Merchandise subject to terms 2/10,…

Merchandise subject to terms 2/10, r/30, FOB shipping point, is sold on account to a customer for $15,400. What is the amount of the sales discount allowable? O. $539 Oh. $154 O $300 Od 5462

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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Question

jagdish

Merchandise subject to terms 2/10, r/30, FOB shipping point, is sold on account to a customer for $15,400. What is the amount of the sales discount allowable?
O $5.39
Oh. $154
O $300
Od 5462

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Step 1: Explanation of credit terms and FOB Shipping Point

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