Answer:
$10,534
Explanation:
Net purchases before discount = $11,600 - $2,080 = $9,520
Since the company paid before 10 days, it takes 3% discount as follows:
Discount = $9,520 * 3% = 9,234.40 = $285.60
Net purchases after discount = $9,520 - $285.60 = $9,234.40
The company pays for the freight charge of $1,300 and net purchases after discount. Therefore, we have:
Cash paid = $9,234.40 + $1,300 = $10,534.40, or $10,534 approximately.
