Question

A sales invoice included the following information: merchandise price, $12,400; terms 1/10, n/eom, FOB shipping point with prepaid freight of $1,200 added to the invoice. Assuming that a credit for merchandise returned of $900 is granted prior to payment and the invoice is paid within the discount period, what is the amount of cash that should be received by the seller

Answer 1

$12,700 is the cash received by the seller.

Calculation:

merchandise price $12,400 + freight $1,200 - credit return $900

= $12,700

The Cash (currency or coins) is legal tender that can be used to the  exchange goods, debt, or services. It may also include the value of assets that can be quickly converted into cash, as reported by a company. A seller is any person or company who sells a product, service, or financial asset. Short selling is the practice of borrowing securities that are not owned in order to sell them and then repurchase them at a lower price.

To learn more about  seller, click here.

https://brainly.com/question/12806996

#SPJ1