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A) Shelton Company purchased $11,600 of merchandise on June 15 with terms of 3/10, n/45,...

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Accounting

A) Shelton Company purchased $11,600 of merchandise on June 15 with terms of 3/10, n/45, and FOB shipping point. On June 20, it returned $2,080 of that merchandise. The shipping charges for the purchase totaled $1,300. 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:
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2) A buyer of $8,500 in merchandise inventory failed to take advantage of the vendor's credit terms of 3/15, n/45, and instead paid the invoice in full at the end of 45 days. By not taking advantage of the cash discount, the buyer lost the discount of:
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Multiple Choice $12,900. $8,886. $12,280. $10,534. $12,380. Multiple Choice $255. $1,275. $100. $850. $85

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