Acompany purchased $10,100 of merchandise on june 15 with terms of 2/10, n/45, and fob shipping point. the freight charge, $550, was added to the invoice amount. on june 20, it returned $880 of that merchandise. on june 24, it paid the balance owed for the merchandise taking any discount it is entitled to. the cash paid on june 24 equals:

$9,586

Explanation:

The computation of the cash paid is shown below:

= Merchandise amount - returned goods - discount + freight charges

= $10,100 - $880 - $184.40 + $550

= $9,586

The discount = (Merchandise amount - returned goods) × discount rate

= ($10,100 - $880) × 2%

= $184.40

Simply we deduct the returned goods and discount and added the freight charges to the merchandise amount so that the correct amount can come.

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