Question

12. An invoice for hosiery is dated Aug 22 with terms 1/10, FOB store. The total billed cost of merchandise is $876.90 and shipping charges are $18.60. If the invoice is paid on September 5, how much should be remitted

Answer 1

Answer:

$895.5

Explanation:

Calculation to determine how much should be remitted using this formula

Remitted Amount=Total billed cost of merchandise +Shipping charges

Let plug in the formula

Remitted Amount=$876.90+ $18.60

Remitted Amount=$895.5

Therefore how much should be remitted is $895.5