On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 63 televisions at a cost of $135 each. Century received a 10/5/2 chain discount. Shipping terms were FOB shipping point. ACME prepaid the $83 freight. Terms were 4/10 EOM. When Century received the goods, 3 sets were defective. Century returned these sets to ACME. On April 8, Century sent a $235 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.
On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 63 televisions at a cost of $135 each. Century received a 10/5/2 chain discount. Shipping terms were FOB shipping point. ACME prepaid the $83 freight. Terms were 4/10 EOM. When Century received the goods, 3 sets were defective. Century returned these sets to ACME. On April 8, Century sent a $235 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.
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 10EB: Canary Lawnmowers sold 70 lawnmower parts at $5.00 per part to a customer on December 4 with a cost...
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On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 63 televisions at a cost of $135 each. Century received a 10/5/2 chain discount. Shipping terms were FOB shipping point. ACME prepaid the $83 freight. Terms were 4/10 EOM. When Century received the goods, 3 sets were defective. Century returned these sets to ACME. On April 8, Century sent a $235 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.
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