Determining amounts to be paid on inv
Learning Objective 2
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:
Merchandise
Invoice Amount
Freight
Paid by Seller
Customer Returns
and Allowances
$32,000
FOB destination, n/30
$1,600
b.
12,800
$300
FOB shipping point, 2/10, n/30
2,500
c.
21,000
FOB shipping point, 1/10, n/30
4,000
d.
9,000
175
FOB shipping point, 2/10, n/30
1,000
e.
77,400
FOB destination, 1/10, n/30
00000
