An invoice received included the following information: merchandise price, $12,000; terms 1/10, n/eom; FOB shipping...
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Accounting
An invoice received included the following information: merchandise price, $12,000; terms 1/10, n/eom; FOB shipping point with prepaid freight of $428. Assuming that a credit for merchandise returned of $2,400 is granted prior to payment and that the invoice is paid within the discount period, what amount of cash should be paid by the buyer?
a.$9,932
b.$2,400
c.$12,000
d.$12,304
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