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Freight Terms

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
(Invoice Amount)
Freight
Paid by Seller
Freight Terms Returns and
Allowances
(Invoice
Amount)
a. $24,000   $300        FOB destination, 1/10, n/30 $2,000  
b. 31,500   250        FOB shipping point, 2/10, n/30 2,500
 

Sep 21 2020 Read more Less More

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