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Author Question: A sales invoice included the following information: merchandise price, 12,000; terms 1/10, n/eom, ... (Read 18 times)

2125004343

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on: Jul 5, 2018
A sales invoice included the following information: merchandise price, 12,000; terms 1/10, n/eom, FOB shipping point with prepaid freight of 900 added to the invoice. Assuming that a credit for merchandise returned of 500 is granted prior to payment and that the invoice is paid within the discount period, what is the amount of cash that should be received by the seller?
 a. 12,285
  b. 11,500
  c. 10,480
  d. 11,385

Question 2

On July 1, Team Shirts paid 600 for three months' worth of advertising beginning on July 1. What is the balance in the Prepaid advertising account at August 31?
 
  A) 0
  B) 200
  C) 400
  D) 600


BAOCHAU2803

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Reply #1 on: Jul 5, 2018
Answer to Question 1

a

Answer to Question 2

B


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