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?

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?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter22: Providing And Obtaining Credit

Section: Chapter Questions

Problem 2Q

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chapter 4

8. 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?

(Present your answer with a comma separator, dollar-sign, and rounded to the penny (i.e. $1,234.56).)

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