May 2, 2016

Homework Help: Business Finance

Posted by Terrry on Wednesday, January 25, 2012 at 7:01pm.

Morgan company received from Lee Company an invoice dated September 27. Terms were 2/10 EOM. List price on the invoice was $5000(freight not included). Morgan recievves a 9/7 chain discount. Frieght charges are Morgan's responsibility but Lee agreed to prepay the $150 freight charge. Morgan pays the invoice November 9. What does Morgan pay Lee?

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