1a. On June 15, Oakley Inc. sells inventory on account to Sunglass Hut (SH) for $10,000, terms 3/10, n/30. On June 20, SH returns to Oakley inventory that SH had purchased for $2,100. On June 24, SH completely fulfills its obligation to Oakley by making a cash payment. What is the amount of cash paid by SH to Oakley?

1b. Devonshire, Inc. sold merchandise inventory on account at a price of $11,000 with payment terms of 2/10, n/30. The merchandise cost Devonshire $6,000. If the customer paid for the merchandise 5 days after receiving the invoice, how much cash was collected by Devonshire?

1c. Elm Corporation is a merchandising company. The year began with inventory of $35,000, Purchases for the year were $60,000, and the Ending Inventory was $22,000. What is the Cost of Goods Sold that would be reported on the income statement?

1d. Alvarado Company began the current month with inventory costing $26,915, then purchased inventory at a cost of $67,640. The perpetual inventory system indicates that inventory costing $75,500 was sold during the month for $79,850. If an inventory count shows that inventory costing $18,760 is actually on hand at month-end, what amount of shrinkage occurred during the month?