On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 59 televisions at a cost of $125 each. Century received a 12/2/5 chain discount. Shipping terms were FOB shipping point. ACME prepaid the $119 freight. Terms were 3/10 EOM. When Century received the goods, 2 sets were defective. Century returned these sets to ACME. On April 8, Century sent a $250 partial payment. Century will pay the balance on May 6. What is Century's final payment on May 6? Assume no taxes. Note: Do not round intermediate calculations. Round your answer to the nearest cent. Answer is complete but not entirely correct. Final payment $ 5,698.64 x

On March 30, Century Link received an invoice dated March 28 from ACME Manufacturing for 59 televisions at a cost of $125 each. Century received a 12/2/5 chain discount. Shipping terms were FOB shipping point. ACME prepaid the $119 freight. Terms were 3/10 EOM. When Century received the goods, 2 sets were defective. Century returned these sets to ACME. On April 8, Century sent a $250 partial payment. Century will pay the balance on May 6. What is Century's final payment on May 6? Assume no taxes. Note: Do not round intermediate calculations. Round your answer to the nearest cent. Answer is complete but not entirely correct. Final payment $ 5,698.64 x

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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