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-EX 5-15 Determining amounts to be paid on invoices Determine the amount to be paid in full settlement of each of the following invoices, that credit for returns and allowances was received prior to payment and that all invoi paid within the discount period: Merchandise Invoice Amount Freight Paid by Seller Customer Returns and Allowances $32.000 12.800 FOB destination, n/30 FOB shipping noint $1.600 $300 21.000

-EX 5-15 Determining amounts to be paid on invoices Determine the amount to be paid in full settlement of each of the following invoices, that credit for returns and allowances was received prior to payment and that all invoi paid within the discount period: Merchandise Invoice Amount Freight Paid by Seller Customer Returns and Allowances $32.000 12.800 FOB destination, n/30 FOB shipping noint $1.600 $300 21.000

Corporate Financial Accounting
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting For Merchandising Businesses
Section: Chapter Questions
Problem 5.4BE
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period of 10 day uie discOunt • EX 5-15 Determining amounts to be paid on invoices Determine the amount to be paid in full settlement of each of the following invojices that credit for returns and allowances was received prior to payment and that all invoice paid within the discount period: Merchandise Invoice Amount Freight Paid by Seiler Customer Returns and Allowances $32.000 FO8 destination, n/30 FOB shipping point, 2/10, n/30 FOB shipping point, 1/10, n/30 FOB shipping point, 2/10, n/30 FOB destination, 1/10, n/30 a. $1.600 2.500 4,000 1,000 b. 12,800 $300 C. 21,000 d. 9,000 175 e. 77,400
Transcribed Image Text:period of 10 day uie discOunt • EX 5-15 Determining amounts to be paid on invoices Determine the amount to be paid in full settlement of each of the following invojices that credit for returns and allowances was received prior to payment and that all invoice paid within the discount period: Merchandise Invoice Amount Freight Paid by Seiler Customer Returns and Allowances $32.000 FO8 destination, n/30 FOB shipping point, 2/10, n/30 FOB shipping point, 1/10, n/30 FOB shipping point, 2/10, n/30 FOB destination, 1/10, n/30 a. $1.600 2.500 4,000 1,000 b. 12,800 $300 C. 21,000 d. 9,000 175 e. 77,400
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