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QUESTION
City Cellular purchased $28,900 in cell phones on April 16. The terms of sale were 4/20, 9/30, n/65. Freight terms were F. destination. Returned...
City Cellular purchased $28,900 in cell phones on April 16. The terms of sale were 4/20, 9/30, n/65. Freight terms were F.O.B. destination. Returned goods amounted to $600.
Do not round intermediate calculations. Round dollar answers to the nearest cent.
a. What is the net amount due if City Cellular sends the manufacturer a partial payment of $5,000 on May 1?
b. If the manufacturer charges a % late fee, how much would City Cellular owe if it did not pay the balance by the net date?
