Gadgets Inc., received an invoice from a supplier for raw materials that had a list price of $12,600.00. The supplier offered a series discount of 30/20/10 and terms of 2/10, n/30 ROG and F.O.B. destination. The supplier pre-paid the freight of $350.00. The invoice was dated June 10 and the goods were received on June 30. If Gadgets remitted full payment on July 10, what was the amount they paid?

A. $6,566.39
B. $5,880.39
C. $6,223.39
D. $6,573.39


Answer: D

Business

You might also like to view...

Which of the following would be included in cash and cash equivalents on the balance sheet?

A) sinking fund B) bank overdrafts C) commercial paper D) compensating balances

Business

Accumulation of dividends in arrears on cumulative preferred stock does not guarantee the dividends will be paid. 

Answer the following statement true (T) or false (F)

Business

A basic benefits package that is typically offered to employees usually includes life and health insurance, sick leave, and vacation.

Answer the following statement true (T) or false (F)

Business

Adjusting entries are designed primarily to correct accounting errors.

Answer the following statement true (T) or false (F)

Business