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A company purchased $11,800 of merchandise on June 15 with terms of 3/10, n/45, and...

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Accounting

A company purchased $11,800 of merchandise on June 15 with terms of 3/10, n/45, and FOB shipping point. On June 20, it returned $2,240 of that merchandise. The shipping charges for the purchase totaled $1,400. On June 24, it paid the balance owed for the merchandise taking any discount it is entitled to. The cash paid on June 24 equals:

Multiple Choice

  • $8,919.

  • $10,673.

  • $12,640.

  • $13,200.

  • $12,540.

Answer & Explanation Solved by verified expert
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