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41) On June 1, 2025, Penny Corp. sold merchandise with a list price of $70,000 to Linn on account. Penny allowed trade discounts of 30%
41) On June 1, 2025, Penny Corp. sold merchandise with a list price of $70,000 to Linn on account. Penny allowed trade discounts of 30% and 20%. Credit terms were 2/15, n/40 and the sale was made f.o.b. shipping point. Penny prepaid $1,000 of delivery costs for Linn as an accommodation. On June 12, 2025, Penny received from Linn a remittance in full payment amounting to A) $39,186. B) $38,416. C) $39,416. D) $39,788. 41)
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