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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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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