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J.C. Penney of Boston sold office equipment for $12,000 to Lee's of San Diego. Terms of the sale are 3/10, n/30 FOB Boston. J.C. Penney has agreed to prepay freight $300. Assuming Lee's pays within the discount period, how much will Lee's pay J.C. Penney?

Respuesta :

Answer:

$11,940

Explanation:

The computation of the paying amount is shown below:

= Sale value of the equipment - discount charges + freight charges

= $12,000 - $360 + $300

= $11,940

The discount charge is

= Sale value of the equipment × discount rate

= $12,000 × 3%

= $360

We simply deduct the discount and added the freight charges to the sale value of the equipment so that the actual value could arrive