Merchandise subject to terms 210 n30 fob shipping point is, Ask an Expert

Accounting

Merchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $25,000. The seller paid transportation costs of $1,000 and issued a credit memorandum for $2,000 prior to payment. What is the amount of the cash discount allowable?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M991417

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