Flounder Company purchased merchandise on account from a supplier for $32,100, terms 2/10, n/30. Flounder Company returned

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Flounder Company purchased merchandise on account from a supplier for $32,100, terms 2/10, n/30. Flounder Company returned $8,600 of the merchandise and received full credit.

a. If Flounder Company pays the invoice within the discount period, what is the amount of cash required for the payment?

b. What account is credited by Flounder Company to record the return?

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Accounting

ISBN: 9781337902687

28th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

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Question Posted: Apr 06, 2021 05:34 AM

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Flounder Company purchased merchandise on account from a supplier for $32,100, terms 2/10, n/30. Flounder Company returned

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a Cash needs to be paid 321008600 321008600 2 Means he will pay the ne...View the full answer

Accounting

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