On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 53 televisions at a cost of $105 each. Century received a 9/4/5 chain discount. Shipping terms were FOB shipping point. ACME prepaid the $98 freight. Terms were 100 EOM. When Century received the goods, 2 sets were defective. Century returned these sets to ACME. On April 8, Century sent a $175 partial payment. Century will pay the balance on May 6. What is Century's final payment on May 6? Assume no taxes. Note: Do not round intermediate calculations. Round your answer to the nearest cent. Final payment
On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 53 televisions at a cost of $105 each. Century received a 9/4/5 chain discount. Shipping terms were FOB shipping point. ACME prepaid the $98 freight. Terms were 100 EOM. When Century received the goods, 2 sets were defective. Century returned these sets to ACME. On April 8, Century sent a $175 partial payment. Century will pay the balance on May 6. What is Century's final payment on May 6? Assume no taxes. Note: Do not round intermediate calculations. Round your answer to the nearest cent. Final payment
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject: acounting
Transcribed Image Text:On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 53 televisions at a cost of $105 each.
Century received a 9/4/5 chain discount. Shipping terms were FOB shipping point. ACME prepaid the $98 freight. Terms were 1/100
EOM. When Century received the goods, 2 sets were defective. Century returned these sets to ACME. On April 8, Century sent a $175
partial payment. Century will pay the balance on May 6. What is Century's final payment on May 6? Assume no taxes.
Note: Do not round intermediate calculations. Round your answer to the nearest cent.
Final payment
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