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(solution) I have been struggling to solve this problem. I don't know if it


I have been struggling to solve this problem. I don't know if it is just the way the question was worded but I am not understanding how to solve it.


BUS 207 ? Principles of Accounting I

 

Homework Assignment 5 Chapter 6

 

Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. a.

 

b.

 

c.

 

d.

 

e. Merchandise

 

$11,150 7,700 13,100 15,200 6,600 Freight

 

Paid by Seller ?

 

$500 ? 285 ? FOB destination, n/20

 

FOB shipping point, 3/10, n/30

 

FOB shipping point, 1/10, n/30

 

FOB shipping point, 2/10, n/30

 

FOB destination, 2/10, n/30 Returns and

 

Allowances

 

$540 1,500 400 250 350

 


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