Determining amounts to be paid on invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that a·credit for returns and allowances was received prim· to payment and that all invoices were paid within the discount period: Merchandise Freight Paid by Seller Customer Returns and Allowances a. $14,000 — FOB destination, n/30$3,250 b. 21,200 $380 FOB shipping point, 2/10, n/30 4,000 c. 16,400 — FOB shipping point, 1/10, n/30 900 d. 7,500 250 FOB shipping point, 2/10, n/30 1,200 e. 28,800 — FOB destination, 1 /10, n/30 — BuyFind Accounting 27th Edition WARREN + 5 others Publisher: Cengage Learning, ISBN: 9781337272094 BuyFind Accounting 27th Edition WARREN + 5 others Publisher: Cengage Learning, ISBN: 9781337272094 Solutions Chapter Section Chapter 6, Problem 6.13EX Textbook Problem Determining amounts to be paid on invoicesDetermine the amount to be paid in full settlement of each of the following invoices, assuming that a·credit for returns and allowances was received prim· to payment and that all invoices were paid within the discount period: Merchandise Freight Paid by Seller Customer Returns and Allowances a.$14,000 — FOB destination, n/30 $3,250 b. 21,200$380 FOB shipping point, 2/10, n/30 4,000 c. 16,400 — FOB shipping point, 1/10, n/30 900 d. 7,500 250 FOB shipping point, 2/10, n/30 1,200 e. 28,800 — FOB destination, 1 /10, n/30 —

Expert Solution

a.

To determine

Purchases is an activity of acquiring the merchandise inventory of a business.

Sales is an activity of selling the merchandise inventory of a business.

To Determine: The amounts to be paid on invoices.

Explanation of Solution

Calculate the amount to be paid on invoices.

Merchandise = $14,000 (FOB destination, n/30) Customer Returns and Allowances =$3,250

Amount to be paid on invoices = MerchandiseCustomer

Expert Solution

b.

To determine
The amounts to be paid on invoices.

Expert Solution

c.

To determine
The amounts to be paid on invoices.

Expert Solution

d.

To determine
The amounts to be paid on invoices.

Expert Solution

e.

To determine
The amounts to be paid on invoices.

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