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QUESTION
Merchandise subject to terms 1/10, n/30, FOB shipping point, is sold on account to a customer for $25,000.
Merchandise subject to terms 1/10, n/30, FOB shipping point, is sold on account to a customer for $25,000. The seller paid freight costs of $2,000 and issued a credit memo for $10,000 prior to payment. What is the amount of the cash discount allowable? a. $170 b. $150 c. $130 d. $250
