Merchandise subject to terms 110 n30 fob shipping point is, Ask an Expert

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Merchandise subject to terms 1/10 n/30, FOB shipping point, is sold on account to a customer for $18,000. The seller paid transportation cost pf $1000 and issued a credit memorandum for $5,000 prior to payment. What is the amount of the cash discount allowable?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M975647

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