The Lone Cactus Nursery has the following general ledger account balances as of August. Purchases$56,211Freight In3,000Purchases Returns and Allowances500Purchases Discounts300Calculate the net delivered cost of purchases for August.
What will be an ideal response?
| Purchases | $56,211 |
| Freight In | 3,000 |
| Delivered Cost of Purchases | $59,211 |
| Less Purchases Returns and Allowances | 500 |
| Less Purchases Discounts | 300 |
| Net Delivered Cost of Purchases | $58,411 |
Feedback: $56,211 + $3,000 - $500 - $300 = $58,411
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Indicate whether the statement is true or false.
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Answer the following statement true (T) or false (F)