Determine the amount to be paid in full settlement of each invoice, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period.   Merchandise   Freight Paid by Seller Freight Terms Returns and Allowances a. $10,800        $276      FOB Shipping Point, 1/10, net 30 $1,100      b. $12,700        $82      FOB Destination, 2/10, net 45 $2,800        a. $fill in the blank 1 b. $fill in the blank 2

Determine the amount to be paid in full settlement of each purchase invoice, assuming that credit for returns and allowances was received prior and that all invoices were paid within the discount period, a. b. Merchandise $3,400 $13,300 3103 Freight Paid by Seller $287 $72 Freight Terms FOB shipping point, 1/10, net 30 FOB destination, 2/10, net 45 Returns and Allowances $300 $2,900 payment

1. Merchandise with a list price of $7,425 is purchased on account, terms FOB shipping point, n/30. The seller prepaid transportation costs of $300. Prior to payment, $1,000 of the merchandise is returned. The correct amount is paid within the discount period.(net method) Record the foregoing transactions of the buyer in the sequence indicated below. a) Purchased the merchandise b) Recorded receipt of the credit memorandum for merchandise returned. c) Paid the amount owed.

Complete the following by calculating the cash discount and net amount paid: (If more than one discount, assume date of last discount.) Gross amount of invoice (freight charge already included) $ 625 Freight charge None Date of invoice 8/10 Terms of invoice 5/10, 4/15, n/30 Date of payment 8/22 Cash discount Net amount paid

Complete the following by calculating the cash discount and net amount paid: (If more than one discount, assume date of last discount.)  Gross amount of invoice (freight charge already included) Freight charge date of invoice terms of service  date of payment  cash discount net amount paid $650 None 8/11 4/10,2/15, n/30 8/23