On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 59 televisions at a cost of $125 each. Century received a 12/2/5 chain discount. Shipping terms were FOB shipping point. ACME prepaid the $119 freight. Terms were 3/10 EOM. When Century received the goods, 2 sets were defective. Century returned these sets to ACME. On April 8, Century sent a $250 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 59 televisions at a cost of $125 each. Century received a 12/2/5 chain discount. Shipping terms were FOB shipping point. ACME prepaid the $119 freight. Terms were 3/10 EOM. When Century received the goods, 2 sets were defective. Century returned these sets to ACME. On April 8, Century sent a $250 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
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 8PB: Air Compressors Inc. purchases compressor parts for its inventory from a supplier. The following...
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