Problema Solution
City Cellular purchased $28,900 in cell phones on April 25. The terms of sale were 4/20, 3/30, n/60. Freight terms were F.O.B. destination. Returned goods amounted to $650. What is the net amount due if City Cellular sends the manufacturer a partial payment of $5,000 on May 20?
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Answer:
28900-650returned goods= 28250,
28250- ( 5000 paid - 3% discount because it was paid within 30 days) = net amount due