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Question

Cooper Company purchased goods with the following terms and details:

 

Sales price,

$11,000

Terms, 1/10, n/30

Date of sale, March 9

Date of payment, March 19

Returns and allowances (before payment), $1,000

Shipping, FOB Shipping Point, $300, prepaid by seller

Required:

 

Compute the amount that Cooper Company has to pay to the seller for the goods.

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