Merchandise received on July 20 is charged to the store on an invoice dated July 8 for $1,254 with terms of 6/10-60X. What is the last day for taking the cash discount?
1. Merchandise received on July 20 is charged to the store on an invoice dated July 8 for $1,254 with terms of 6/10-60X. What is the last day for taking the cash discount?
2. Merchandise received on July 20 is charged to the store on an invoice dated July 8 for $1,254 with terms of 6/10-60X. If the invoice is paid on September 17, how much should be remitted? (Present your answer with a comma separator, dollar-sign, and rounded to the penny (i.e. $1,234.56).)
3. A retailer in Atlanta ordered a shipment of shoes totaling $15,800 from a vendor in California. The shipping cost was $220. The shoes were shipped FOB Atlanta; charges reversed. The shoe vendor gave the retailer a 1% damage allowance. How much did the retailer pay the vendor for the shoes? (Present your answer with a comma separator, dollar-sign, and rounded to the penny (i.e. $1,234.56).
4. On April 2, merchandise costing $15,400 reaches the retailer located in New Orleans. The invoice is dated March 22 and has terms of 8/10 EOM. The invoice is paid on April 10. How much should be remitted? (Present your answer with a comma separator, dollar-sign, and rounded to the penny (i.e. $1,234.56).)
5. On April 2, merchandise costing $15,400 reaches the retailer located in New Orleans. The invoice is dated March 22 and has terms of 8/10 EOM. The invoice is paid on April 10. If the merchandise is shipped FOB New Orleans, charges reversed, with transportation charges of $300, how much should be remitted?
6. A wholesaler ordered 14 bolts of drapery fabric at $5.50 per yard. Each bolt had 60 yards. The order qualified for a quantity discount of 2%. The merchandise was shipped FOB factory; freight charges of $21.80 were prepaid. The invoice was dated March 18 with terms of 2/15, n/30. how much should be remitted if the invoice is paid on March 29?
(Present your answer with a comma separator, dollar-sign, and rounded to the penny (i.e. $1,234.56).)
7. A sportswear buyer placed the following order for coordinates:
| Quantity | Item | Cost ($) |
| 4 1/2 dozen | Blouses | 19.00 each |
| 3 1/2 dozen | Skirts | 21.00 each |
| 2 1/4 dozen | Pants | 23.00 each |
| 3 1/6 dozen | Jackets | 36.00 each |
The merchandise is shipped September 15 and received September 22. Invoice terms are 8/10 EOM, FOB factory; transportation charges of $24.79 have been prepaid. How much should be remitted if the invoice is paid on October 8?
(Present your answer with a comma separator, dollar-sign, and rounded to the penny (i.e. $1,234.56).)
8. The toy buyer had the option of ordering stuffed animals directly from the manufacturer or from a nearby wholesaler. The manufacturer will not ship orders for less than $1,200 total list price. Delivery typically requires five weeks, and freight averages 2.5% of total billed cost. Trade discounts on the merchandise are 40% and 10%; terms are 2/10, n/30.
A wholesaler located in the retailer's area stocks many of the same stuffed animals. he does not require a minimum order and will deliver at no charge in the area if the order has a total billed cost of at least $500. The manufacturer and wholesaler base cost on the same list price; however the wholesaler sells with trade discounts of 40% and 8% and terms of 1/15, n/30.
What is the difference in the total net cost (including freight) of merchandise with a total list price of $1,200 from these two vendors?
(Present your answer with a comma separator, dollar-sign, and rounded to the penny (i.e. $1,234.56).)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
