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Freight Terms Determine the amount to be paid in full settlement of each of two invoices...

Question:

Freight Terms

Determine the amount to be paid in full settlement of each of two invoices (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar.

Merchandise Freight
Paid by Seller
Freight Terms Returns and
Allowances
a. $7,100 $700 FOB shipping point, 1/10, n/30 $1,500
b. 4,300 100 FOB destination, 2/10, n/30 1,050
a. $
b. $

Answers

Answer: Amount to be paid in full settlements calculation : Formula : - Merchandise cost - Returers and - allowances a discou

.

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