Answered

Explore Westonci.ca, the top Q&A platform where your questions are answered by professionals and enthusiasts alike. Get quick and reliable solutions to your questions from a community of experienced experts on our platform. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

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.
Merchandise Freight Paid Freight Terms Returns and Allowances
(Invoice Amount) by Seller (Invoice Amount)
a. $5,100 $200 FOB destination,
1/10, n/30 $1,700
b. 3,250 400 FOB shipping point,
2/10, n/30 1,000

Sagot :

abiolataiwo2015

Answer:

A. $3,566

B. $2,605

Explanation:

Calculation to Determine the amount to be paid in full settlement of each of two invoices, (a) and (b)

A. Amount paid in full=(5,100-1,700)*(100%-1%)+200

Amount paid in full=(5,100-1,700)*99%+200

Amount paid in full=3,400*99%+200

Amount paid in full=$3,566

B. Amount paid in full=(3,250-1,000)*(100%-2%) +400

Amount paid in full=(3,250-1,000)*98% +400

Amount paid in full=2,250*98%+400

Amount paid in full=$2,605

Therefore the amount to be paid in full settlement of each of two invoices, (a) and (b) will be :

A. $3,566

B. $2,605

Thanks for stopping by. We are committed to providing the best answers for all your questions. See you again soon. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.