On March 30, Millennium Television received the goods and an invoice dated March 28 from Widget Manufacturing for 60 TV sets at a cost of $160 each.
Millennium received a 10/4/2 chain discount. Shipping terms were FOB shipping point.
Widget prepaid the $80 freight. Terms were 2/10 EOM.
When Millennium received the goods, 3 sets were defective. Millennium returned these sets to Widget.
On April 8, Millennium sent a $3,500 partial payment and will send the balance on May 6.
What is Millennium final payment on May 6th?
Assume no sales taxes.
Subject
Business Accounting
Question
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