Jason Company on June 15 sells merchandise on account to Melody Co. for $1,000, terms 2/10, n/30. On June 20 Melody Co. returns mer- chandise worth $300 to Jason Company. On June 24 payment is received from Melody Co. for the balance due. What is the amount of cash received?

(a) $700.

(b) $680.

(c) $686.

(d) None of the above.

AppendixLO1