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how to get the value of cash discount and remitance
For each of the following Mary paz abad company purchases, assume that credit terms are 2/10, n/30 and tha credit memorandum was issued and known before mary Paz abad company made payment
PURCHASES SHIPPING TERMS PREPAID FREIGHT(BY SELLER) CREDIT MEMO a.12,0000 FOB SHIPPING PT. 1,000 3,000 B. 24,000 FOB DESTINATION 2,400 2,000 C. 28,000 FOB SHIPPING PT. 4,000 D. 40,000 FOB SHIPPING PT. 3,000 A. DETERMINE CASH DISCOUNT AVAILABLE B. DETERMINE CASH REMITTANCE IF PAYMENT WERE MADE WITHIN THE DISCOUNT PERIOD |
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