Merchandise is sold for $3,600, terms FOB destination, 2/10, n/30, with prepaid freight costs of $150. If $500 of the merchandise is returned prior to payment and the invoice is paid within the discount period, the amount of the sales discount is $65.
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Q24: A sale of $750 on account subject
Q25: In a perpetual inventory system, merchandise returned
Q26: If the buyer bears the freight costs
Q33: If merchandise costing $3,500, terms FOB destination,
Q35: When the terms of sale are FOB
Q38: Sellers and buyers are required to record
Q50: The abbreviation FOB stands for Free On
Q52: Under the perpetual inventory system, a company
Q55: The chart of accounts for a merchandise
Q56: When merchandise is sold for $600 plus
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