Returned guy A cellular company purchased $26,600 in cell phones on April 25. The terms of sale were 4/20, 3/30, n/60. Freight terms were F.B.B. (a) What is the net amount due (in $) if the cellular company sends the manufacturer a partial payment of $4,000 on May 20? (Round your answer to the nearest cent.) $ (b) What is the net date? -Select- (c) If the manufacturer charges a 4. % late fee, how much (in $) would the cellular company owe if it did not pay the balance by the net date? (Round your answer to the nearest cent. 2

Returned guy A cellular company purchased $26,600 in cell phones on April 25. The terms of sale were 4/20, 3/30, n/60. Freight terms were F.B.B. (a) What is the net amount due (in $) if the cellular company sends the manufacturer a partial payment of $4,000 on May 20? (Round your answer to the nearest cent.) $ (b) What is the net date? -Select- (c) If the manufacturer charges a 4. % late fee, how much (in $) would the cellular company owe if it did not pay the balance by the net date? (Round your answer to the nearest cent. 2

Name: A cellular company purchased $26,600 in cell phones on April 25. The
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Description: A cellular company purchased $26,600 in cell phones on April 25. The terms of sale were 4/20, 3/30, n/60. Freight terms were F.O.B. destination. Returned goods amounted to $650.(a) What is the net amount due (in $) if the cellular company sends the

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A credit sale of $3800 is made on April 25, terms 1/10, n/30, on which a return of $300 is granted on April 28. What amount is received as payment in full on May 4? $3465 • $3800 • $3500 Ⓒ $3762
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