Goods are sold Nov 2, with terms "110,n30, FOB Shipping Point Which of...

60.1K

Verified Solution

Question

Accounting

Goods are sold Nov 2, with terms "110,n30,
FOB Shipping Point
Which of the following is (are) correct?
Select ALL correct choices, incorrect choices are penalized.
Buyer can take discount if they pay on or before Nov 30th.
10% discount is deducted, if payment is made within 10 days of the invoice
date.
1% interest is charged, if payment is not made within 10 days.
A 1% discount is deducted, if payment is made in 10 days after the invoice date.
The seller pays the shipping cost.
Buyer pays shipping costs
Buyer can take the discount if they pay on or before Nov 12th
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students