Merchandise with an invoice price of $10,000 was purchased subject to terms of 2/10, n/30, FOB destination. Transportation costs paid by the seller totaled $300. Assuming the invoice was paid within the discount period, what is the purchaser's net cost of the merchandise? a. $9,506 b. $9,800 C. $10,100 d. $10,300

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
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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Merchandise with an invoice price of $10,000 was purchased
subject to terms of 2/10, n/30, FOB destination. Transportation
costs paid by the seller totaled $300.
Assuming the invoice was paid within the discount period, what
is the purchaser's net cost of the merchandise?
a. $9,506
b. $9,800
C. $10,100
d. $10,300
Transcribed Image Text:Merchandise with an invoice price of $10,000 was purchased subject to terms of 2/10, n/30, FOB destination. Transportation costs paid by the seller totaled $300. Assuming the invoice was paid within the discount period, what is the purchaser's net cost of the merchandise? a. $9,506 b. $9,800 C. $10,100 d. $10,300
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